TEGEL GEARING UP FOR SHAREMARKET FLOAT

Tegel Foods is getting ready for its trans-tasman sharemarket listing. According to press reports, the company has lined up high-profile NZ businessmen James Ogden, David Jackson and George Adams as independent directors, to oversee the firm’s initial public offering. Already on the boards of Summerset Group Holdings and The Warehouse Group, Ogden is expected to become the poultry producer’s independent chairman. As for Jackson, his current directorships include Fonterra and Nuplex Industries, whilst Adams formerly ran Coca-Cola Amatil Nz and was chairman of the FGC.
The float is set to value Tegel—which is seeking a listing on both New Zealand and Australian exchanges—at around $800 million.