Farmers have been given a unique trading opportunity through the new Fonterra and Sharesies partnership.
The collaboration offers farmers a new way to trade Fonterra Co-operative Group (FCG) shares among themselves.
Since 2012, Fonterra shares' current trading platform technology has stayed the same, with the existing vendor agreement set to expire shortly.
The partnership with Sharesies will revolutionise share trading, offering a convenient mobile platform. It will provide real-time notifications on share price movements, the flexibility to order shares without immediate funds, and the convenience of viewing holdings for multiple farms under one login.
Additionally, it will allow for seamless switching between Fonterra shares and personal investments held through Sharesies.
"Sharesies is in the final stages of completing a tailored and exclusive space for our shareholders that's more intuitive and accessible for managing their investment in the Co-operative," said Simon Till, Fonterra's acting CFO.
"We believe it will offer Fonterra farmers an improved trading experience and new features that will support liquidity under our Flexible Shareholding capital structure, which was introduced last year."
Only the Fonterra Shareholders Fund (FSF) units tarded on the NZX have been available on the Sharesies platform.
"It's a privilege to be trusted by New Zealand's largest company to create a user-friendly mobile-first experience that gives farmers more oversight and interaction with their shares," said Leighton Roberts, Sharesies co-founder and co-CEO.
"From the beginning, we were keen to understand and solve the challenges and roadblocks facing farmers when managing their investments."
FCG shares can only be held by current or former supplying farmers, share milkers, contract milkers, or farm lessors. Former suppliers can also transfer Fonterra shares to their relatives or related parties.
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