Synlait Farms, the Canterbury dairy farmer whose owners tried unsuccessfully to raise funds for its milk processing associate in a 2009 IPO, is to have its stock quoted on the Unlisted platform starting tomorrow. The company runs 12,970 cows on 13 farms in Canterbury. The listing is to “provide options to enhance liquidity to shareholders,” founder Juliet Maclean said. “Synlait …

China Construction Bank, the world’s second biggest lender by market value, has got board approval to set up a subsidiary in New Zealand. The bank’s board, which counts former Prime Minister Dame Jenny Shipley among its directors, unanimously approved a proposal to set up a subsidiary in Auckland, with a capital injection of US$50 million. The resolution was one of …

The receivers for failed Timaru lender South Canterbury Finance will wrap up their administration at the end of the month, having clawed back $774.4 million in the two-and-a-half year administration. McGrathNicol’s Kerryn Downey and William Black handed over the remnants of deceased business Allan Hubbard’s empire to Crown Asset Management last year, and remained in office to wind up one …