Shareholders of Synlait Ltd may sell 19 million shares of Synlait Milk as part of the dairy company’s initial public offering while Bright Dairy won’t participate in the sale, according to Synlait Milk’s prospectus. The Rakaia-based Synlait Milk will raise about $120 million from the IPO, of which $75 million will come from new shares and the remaining $45 million …

The New Zealand dollar may decline this week as the yield appeal of the kiwi diminishes amid expectations of better times ahead for the US economy. The local currency may trade between 75 US cents and 80 cents this week, with a downside bias, according to a BusinessDesk survey of nine traders and strategists. The kiwi recently traded at 77.64 …

AMP, the dual-listed financial services firm, expects first-half earnings to fall by as much as 16 percent after its Australian wealth protection business struggled in the second quarter. The Sydney-based firm anticipates underlying profit of between A$415 million and A$435 million in the six months ending June 30, from A$491 million a year earlier, the company said in a statement. …