Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Mighty River Power Share Offer – Final Price set at $2.50

News Release

8 May 201

Mighty River Power Share Offer – Final Price set at $2.50 per share

The Crown has advised that the Final Price for the Initial Public Offering of Ordinary Shares in Mighty River Power has been set at $2.50 per share.

Mighty River Power Chair, Joan Withers, said the determination of the Final Price was at the sole discretion of the Crown as outlined in the Offer Document.

Following the completion of the bookbuild process, Mrs Withers said the Company has been advised and the Final Price had been announced publicly by the Shareholding Ministers.

The Mighty River Power Share Offer is made pursuant to the terms and conditions set out in a combined Investment Statement and Prospectus dated 5 April 2013, as amended on 22 April 2013.

Trading of the shares (under the stockcode ‘MRP’) is expected to begin at 12.30pm (NZST) on Friday, 10 May, on the NZX[1] Main Board on a conditional settlement basis.  Trading of the shares on the ASX[2] (under the stockcode ‘MYT’) on a conditional and deferred settlement basis is expected to begin at 12 noon AEST (2.00pm NZST) on Friday, 10 May 2013.[3]

Shares in Mighty River Power have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. 


10 May 2013

Allocations expected to be available
Expected commencement of trading on NZX Main Board (conditional settlement basis) and ASX (conditional and deferred settlement basis).

14 May 2013

Allotment date. Expected despatch of holding statements and last day of conditional trading.

15 May 2013

Shares expected to begin trading on a normal basis on the NZX Main Board and the ASX.

[1]       Application has been made to NZX Limited for permission to list Mighty River Power and to quote its shares on the NZX Main Board and all the requirements of NZX Limited relating thereto that can be complied with on or before the date of this announcement have been duly complied with. However, NZX Limited accepts no responsibility for any statement in this announcement.  The NZX Main Board is a registered market operated by NZX Limited, which is a registered exchange, regulated under the Securities Markets Act 1988. 

[2]       ASX Limited (ASX) has granted permission, subject to the satisfaction of certain conditions, for Mighty River Power to be admitted to the official list of ASX and for the shares of Mighty River Power to be quoted on ASX.  The fact ASX may admit Mighty River Power to the official list and quote its shares on ASX is not to be taken as an indication of the merits, or as an endorsement by ASX, of Mighty River Power or its shares.  ASX accepts no responsibility for any statement on this communication.  ASX is the holder of an Australian market licence granted under the Corporations Act 2001 (Cth) under which it operates its financial market and is regulated by the Corporations Act 2001 (Cth).

[3]       None of the Crown, Mighty River Power, the Joint Lead Managers or any of their respective directors, officers or employees accepts any liability or responsibility should any person attempt to sell or otherwise deal with shares in Mighty River Power before statements confirming allocations are received.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Trade: NZ Trade Deficit Widens To A Record In September

Oct. 27 (BusinessDesk) - New Zealand's monthly trade deficit widened to a record in September as meat exports dropped to their lowest level in more than three years. More>>


Animal Welfare: Cruel Practices Condemned By DairyNZ Chief

DairyNZ chief executive Tim Mackle says cruel and illegal practices are not in any way condoned or accepted by the industry as part of dairy farming.

Tim says the video released today by Farmwatch shows some footage of transport companies and their workers, as well as some unacceptable behaviour by farmers of dragging calves. More>>


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


International Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news