Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


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

Parliament Headlines | Politics Headlines | Regional Headlines


Minister of Finance: Plan Shows $100 Billion Infrastructure Projects

Finance Minister Bill English has today launched the Government’s Ten Year Capital Intentions Plan (CIP) which shows a pipeline of $100.9 billion worth of infrastructure projects over the next decade. More>>


Werewolf: Safe Landings Gordon Campbell on the safety challenge to the Wellington runway extension.

The safety-related legal challenge revolves around the size of the 90 metre long Runway End Safety Area (RESA) being proposed for the runway extension. More>>


Environment Commissioner: We Need To Work Together On Climate Change And Farming

“The debate around agricultural emissions and the ETS has been polarised for too long,” said the Commissioner. “But the ETS is not the only way forward – there are other things that can be done.” More>>


NZ Super Fund: Seeking To Put A Market Price On Climate Change

Oct. 19 (BusinessDesk) - The New Zealand Superannuation Fund says it will devise a set of rules to assess investment winners and losers under climate change, a strategy that could rule out fossil fuels or producers such as current portfolio member Exxon ... More>>


Rejuvenation: Parata Will Not Contest 2017 Election

Education Minister and National List MP Hekia Parata has today announced that she will not be contesting the next election. She advised the Prime Minister of her decision earlier this year. More>>

Prisons Grow: Government Approves Plans For Increased Prison Capacity

Despite significant progress in reducing crime the number of prisoners has increased faster than projected. This is because the proportion of offenders charged with serious crimes has risen, meaning more people are being remanded in custody and serving more of their sentences in prison. More>>


Gordon Campbell: On Plastic Bag Activism, And Street Harassment

Amusing to see the Act Party experiencing another outbreak of young fogey-ism. What has aroused the ire of Act Leader David Seymour this time is the introduction of a Greens private members bill to the ballot process, calling for a 15 cents levy on plastic bags to reduce pollution. More>>


Unclear Weapons: US Navy Ship Cleared To Visit NZ For Navy's 75th

United States Navy ship, the USS Sampson, has been given clearance to visit New Zealand next month by Prime Minister John Key... “The process for considering the visit by the USS Sampson is the same as that used for all ships attending the International Naval Review." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news