Rights issue seen as limited option for Synlait
The risk of total shareholder loss is increasing, says an analyst, as milk processor seeks urgent cash to pay down debt.
Synlait's processing plant at Pokeno is on the block.
A rights issue for debt-burdened milk processor Synlait might raise just $47 million, says an analyst, as the company cranks up efforts to realise cash for $310m of loan repayments.
“The issue for Synlait is it’s two minutes to midnight,” said Craigs senior research analyst Stephen
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