The country's largest farmer has taken up its full entitlement of shares in Silver Fern Farms share exchange and rights issue.
Landcorp's chief financial officer, Richard Perry, said the company had bought more than 50,000 new shares at $1 each to take its total shareholding in the meat co-operative to 100,000 shares, the maximum needed to match the volume of prime livestock it supplies the company.
It had also converted all its rebate and supplier investment shares to the new class of ordinary shares.
Silver Fern Farms (SFF) share exchange and bonus share offer ends next Friday and has so far raised more than $19 million in new capital, with more than 69% of the 57.5 million eligible supplier investment and rebate shares exchanged for a new class of ordinary shares.
Mr Perry said Landcorp supported several rural co-operatives and it was important those companies were financially strong.
"It's appropriate for farmers to support their co-operative as they are able. I hope this goes well for Silver Fern Farms. It's good for the industry that co-operatives are well capitalised and have a strong balance sheet."
Landcorp supplied livestock to several meat companies, he said, with the volume going to SFF changing from year to year.
