Canterbury milk processor Synlait Milk has begun trading on the Australian Securities Exchange (ASX) to build on its large shareholding base in Australia.

The company is listed on NZX and dual listed on the Australian stock exchange on Friday to provide more “liquidity” and access to a larger and more diversified shareholder platform.

Managing director and chief executive John Penno said interest in Synlait from Australian investors had grown the past few years and 72 per cent of the company’s institutional shareholding was based in Australia,

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