440,000 pre-register for Mighty River IPO
The number of New Zealanders who pre-registered is "extremely pleasing".
Around 440,000 New Zealanders pre-registered for the Mighty River Power IPO, according to State-Owned Enterprises Minister Tony Ryall.
The number of New Zealanders who pre-registered by 5pm is "extremely pleasing", he says in a statement.
It compares to 250,000 who pre-registered in 1999 ahead of the Contact Energy float.
“Pre-registration is not a commitment to buy shares, and someone pre-registering their interest may decide to not apply for shares in Mighty River Power," Mr Ryall says.
"However, it was a goal of the government to achieve widespread awareness of the opportunity, and I believe we have achieved this.”
Pre-registrants who provided an email address would have received an email confirming their pre-registration number, and will be contacted next week regarding next steps.
Mr Ryall notes that New Zealanders who have not pre-registered can still take part in the share offer when it opens - but the high level of pre-registrations could put this promise under pressure.
The government has said those who pre-register may qualify for up to 25% more shares.
The float is expected mid-April.
NBR Staff
Fri, 22 Mar 2013
Fri, 22 Mar 2013
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440,000 pre-register for Mighty River IPO
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