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Mighty River Power offer to commence Monday 15 April

Hon Tony Ryall
Minister for State Owned Enterprises

12 April 2013 Media Statement
Mighty River Power offer to commence Monday 15 April

State-owned Enterprises Minister Tony Ryall has welcomed today’s announcement from the Financial Markets Authority that the review of the Mighty River Power offer document is complete, and the share offer can now proceed.

“The FMA has confirmed that it is satisfied that the offer document provides all of the information that New Zealanders need to make an informed decision”, Mr Ryall says.

“The Mighty River Power share offer can now open on Monday 15 April, and New Zealanders will have three weeks to apply for shares”.

The offer closes on Friday 3 May, and Mighty River Power is expected to list on the NZX Main Board on Friday 10 May.

“The general offer is only open to New Zealanders, demonstrating the Government’s commitment to putting New Zealanders at the front of the queue and achieving widespread New Zealand ownership,” Mr Ryall says.

“We know that for many New Zealanders, this may be the first time they have thought about buying shares, and great care has been taken to ensure the offer document sets out all of the information they need to know about the company to decide whether to buy shares in it.

“The offer document is the primary source of information for potential investors, and it is important that people take the time to read it. From Monday, when the offer opens, New Zealanders will also be able to get information from branches of banks and brokers in the retail syndicate. (ASB, ANZ, Craigs, First NZ Capital, JB Were, Macquarie, Forsyth Barr)

They can talk to their financial advisors if they want further advice. The call centre (0800 90 30 90) will be open if they have questions about the offer process.

“It is pleasing to get to this important stage in the Mighty River Power offer. We look forward to inviting New Zealanders to consider the opportunity to apply for Mighty River Power shares from Monday.

“The mixed ownership programme is part of the Government’s wider economic plan to control debt and keep investing in our economy.”

© Scoop Media

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