The debut of dairy giant Fonterra 500 million New Zealand dollar (US$412 million) Shareholders Fund will loom large this week with the institutional bookbuild underway and pricing expected to be set Tuesday. Fonterra, the world's largest dairy exporter, is establishing a fund that will give outside investors the opportunity to buy non-voting units in the cooperative. Fonterra is owned by a club of about 10,500 farmer shareholders. Investors will gain access to a dividend as well as the company's potential earnings growth, which is closely tied to demand for dairy from China.