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.

 

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