Following a pre-marketing program to brokers and local and international institutional investors, Synlait Milk Limited (Synlait) advises that it has deferred its plans to IPO.

Synlait received strong support for the IPO from local institutional investors and the Lead Manager but the overall level of support was insufficient to proceed at this time.

Synlait remains committed to executing its plans and will continue to consider a future IPO and the alternative proposals centered on private capital placements that have been negotiated in parallel.