Cadbury dunedin factory. Photo / Otago Daily Times
Cadbury dunedin factory. Photo / Otago Daily Times
A bid to save the Cadbury factory in Dunedin is being unveiled today.
Jim O'Malley, a Dunedin city councillor, is trying to raise $20 million to keep the factory open on a portion of the site.
The Dunedin City Council is not involved in the bid.
O'Malley's plan is torun a share offer aimed at the public as well as business. But before launching any share offer, he has organised a two-week pledge period to gauge interest.
If there is little interest, he said the plan would be dumped and the "lights will turn off in March".
Shares in Dunedin Manufacturing Holdings (DMH) would be priced at $50 if the offer goes ahead. A website, www.ownthefactory.co.nz, has been launched to register pledges.
"You will not be committed to make an investment at this time, but we ask you to only make a pledge if you intend to invest in the future," O'Malley said.
It was an opportunity to invest in a viable business while helping the community, he said.