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

 


IPO signals next phase in evolution of Mighty River Power

Successful completion of IPO signals next phase in evolution of Mighty River Power


"We are delighted to see the breadth and depth of our investor base, particularly first-time investors and we are heartened by the confidence those investors have placed in the Company's future," said Chair Joan Withers.
“Through this Offer we’ve seen a new level of interest and understanding of Mighty River Power’s business – and we know there will be substantial interest in our performance and strategy from our new shareholders and potential investors as we go forward into this next stage of the Company's evolution.


Mighty River Power Limited (NZX: MRP / ASX: MYT) is now trading on a normal basis following the allocation and transfer of 675,031,404 Ordinary Shares from the Crown to more than 113,000 shareholders, who purchased a direct stake in the Company through the Initial Public Offering. The Crown has retained a 51.8% stake, inclusive of loyalty shares.


“This week we’ve written to our shareholders for the first time enclosing their holding statements – and acknowledging their support through the IPO and helping further connect them with Mighty River Power.”
Mrs Withers said the ‘welcome’ letter to all shareholders was designed to reach out to investors and convey our commitment to ongoing communication and transparency. “The new depth and diversity in Mighty River Power’s share register, with a substantial and widespread local retail shareholding, strong support from New Zealand and offshore institutional investors, together with the Crown as a cornerstone shareholder will require us to keep investors appropriately informed and engaged. One important component of our communication approach is the Company's website and a new ‘Investor Centre’ which will be an up-to-date resource for our shareholders, investors and the public to access.


“We’re looking forward to the next steps of engaging with our shareholders, updating them on key milestones for our business, and sharing our business results for the 2013 Financial Year in August this year.


“This has been an exciting time for Mighty River Power, and I’m personally passionate about ensuring that we are responsive to investors and providing appropriate transparency so that they can make informed assessments about the Company’s value and prospects,” she said.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Industrial Action: Stats NZ Throwing Public Money Away Duplicating Data

The Public Service Association (PSA) says Statistics NZ are throwing money away by collecting the same data twice for official statistics such as the Consumer Price Index... As part of the ongoing industrial action, field interviewers who are PSA members are continuing to collect data, but are not sending it through to Statistics NZ. More>>

ALSO:

Other Stats:

Space: Rosetta's 'Philae' Makes Historic First Landing On A Comet

After more than a decade traveling through space, a robotic lander built by the European Space Agency has made the first-ever soft landing of a spacecraft on a comet. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news