Torrent of trades marks Meridian’s first day
Meridian Energy has been greeted by prolific trading after making its debut on the stock exchange today.
By 3.30pm – two-and-a-half hours after listing – more than 154 million first instalment shares had changed hands, representing 13% of the 1.256 million shares floated today.
The value of Meridian shares traded was $166.4 million.
By comparison, some 70.5 million Mighty River shares worth $187.8 million were traded on its first day of trading which started two hours earlier at 11am on May 10.