Synlait Milk is looking to raise $75 million of new capital through floating its business on the New Zealand Stock Exchange.
The company has an indicative share price range of between $2.05 and $2.65, which would give it a market capitalisation of $305 million to $372 million dollars.
It's the second attempt at a listing for the milk company.
Synlait managing director John Penno says the money will go towards repaying debt and the company's growth, including developing its Dunsandel site.
In addition to the new capital, the float will also include a secondary sell-down set at $45 million, though the final size will be determined as part of the book-build process.
Synlait Milk's cornerstone shareholder is Bright Dairy which is listed on the Shanghai stock exchange.
Bright Dairy will not sell any of its shares and will retain its current shareholding, but the proportion of its holding is expected to reduce from 51% to about 40% depending on the final price of the shares.
