$150m capital raise seen likely for Synlait
Forbar analysts cut earnings forecast after 'disappointing' company update.
Milk processor Synlait's balance sheet is under pressure.
Sharebroker Forsyth Barr has downgraded its profit expectations for milk processor Synlait as the prospect of a big capital raise looms larger.
“Something’s got to happen,” Forbar analyst Matt Montgomerie told NBR.
“If I was to rank the options, an equity raise would be number one.”
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