Edison, Woodward Partners to put out Meridian research

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Stock-exchange operator NZX will publish reports by research houses Edison and Woodward Partners on the upcoming Meridian Energy float as part of a plan to keep retail investors informed of the government's planned partial privatisation programme.

The independent reports are for public consumption and will be available once the government releases the Meridian offer documents on Friday, NZX said in a statement. First NZ Capital and Morningstar Research are also making their reports on the offer public.

"This will ensure independent research is widely available to the public," NZX said. "It follows feedback during the Mighty River Power offer regarding the need for independent research to be available to all potential investors."

The government's first partial privatisation was panned for the lack of independent research available to retail investors, creating a perceived disadvantage to institutions who had access to greater information.

Prime Minister John Key yesterday announced plans to list Meridian on Oct. 29 in a two-stage payment, where investors will only have to pay 60 percent upfront, with the balance due over the following 18 months, during which time several dividend payments would be made.

The government will also put a cap on how much retail investors will have to pay, which may end up being a discount to what institutions end up paying after the bookbuild process.

Plans to privatise half the government's stake in Genesis Energy are expected to take place in the first half of next year, while a sell down of its holding in national carrier Air New Zealand could be completed before Christmas.

(BusinessDesk)


1 · Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

1 Comment & Question

Commenter icon key: Subscriber Verified

Why can some brokers publish research and others cannot? My broker say the law does not allow them to publish as they are involved in the sale. Further question If they cannot inform me how do/can I rely on others who publish?

Reply
Share
  • 0
  • 0

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6702 -0.0007 -0.10%
AUD 0.8779 -0.0008 -0.09%
EUR 0.6041 -0.0040 -0.66%
GBP 0.4293 -0.0006 -0.14%
HKD 5.1988 -0.0018 -0.03%
JPY 82.5470 -0.1680 -0.20%

Commods

Commodity Price Change Time
Gold Index 1169.3 -3.550 2015-07-01T00:
Oil Brent 62.5 1.170 2015-07-01T00:
Oil Nymex 56.9 -2.500 2015-07-01T00:
Silver Index 15.6 -0.004 2015-07-01T00:

Indices

Symbol Open High Last %
NZX 50 5794.4 5841.5 5794.4 0.81%
NASDAQ 5029.1 5038.6 4986.9 0.53%
DAX 11191.3 11229.0 11180.5 0.06%
DJI 17638.1 17801.8 17757.9 0.00%
FTSE 6608.6 6637.7 6608.6 0.41%
HKSE 26459.4 26459.4 26250.0 0.12%
NI225 20565.9 20601.7 20329.3 0.95%