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. 

KEY DATES:

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.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news