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


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Scouring: Cavalier Merger Would Extract 'Monopoly Rents' - Godfrey Hirst

A merger of Cavalier Wool Holdings and New Zealand Wool Services International's two wool scouring operations would create a monopoly, says carpet maker Godfrey Hirst. The Commerce Commission on Friday released its second draft determination on the merger, maintaining its view that the public benefits would outweigh the loss of competition. More>>


Scoop Review Of Books: She Means Business

As Foreman says in her conclusion, this is a business book. It opens with a brief biographical section followed by a collection of interesting tips for entrepreneurs... More>>


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Housing: English On Housing Affordability And The Economy

"Long lead times in the planning process tend to drive prices higher in the upswing of the housing cycle. And those lead times increase the risk that eight years later, when additional supply arrives, the demand shock that spurred the additional supply has reversed. The resulting excess supply could produce a price crash..." More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news