Zespri shares up 10% on SunGold licencing announcement

Monday 28th November 2016

Zespri shares have jumped 10 percent in response to the kiwifruit marketer's announcement that it will sell licences for another 400 hectares of the SunGold variety next year, with a further 400ha to be released in 2018, 2019 and 2020 subject to the product's performance and global demand.

The member-owned company has shares that trade on the Unlisted platform and were halted last week ahead of the announcement.

The shares had traded at $3 prior to the announcement but had a busy day today with a turnover of 165,580 shares at a price of $3.30. The trading halt was lifted on Friday. The largest trade was for 65,580 shares, with a value of $216,414.00.

In August, the shares traded as high as $3.50, but were as low as $1.75 in March. Zespri shares can only be owned by growers, with voting rights dependent on production.

BusinessDesk.co.nz

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