Investors punished Synlait Milk shares after the dairy processor was forced to wind back the bullish profit forecast it gave in January because of disruptions from increased Chinese regulations on infant formula and unfavourable foreign exchange movements. The stock dropped 7.3 percent to a three-week low of $3.70, trimming their gains from last year’s initial public offering to 68 percent. …

New Zealand-founded bio-fuels innovator LanzaTech has attracted US$60 million in its latest capital-raising round, including a US$20 million commitment from Japanese industrial conglomerate Mitsui, which will join the LanzaTech board. Headquartered in Chicago, but with scientific operations led from its Auckland laboratories, LanzaTech is seeking up to US$80 million in its so-called “D round” of funding, with a second tranche …

The liquidators of the Mainzeal Group of companies have racked up $523,000 in legal fees since taking on the administration, as they face several court battles with the failed construction firm’s principal, Richard Yan. BDO’s Brian Mayo-Smith, Andrew Bethell and Stephen Tubbs are seeking about $46.6 million in related party debt stemming from two significant restructures in the two years …