Mighty River pre-registration exceeds 335,000
The Contact Energy offering in 1999 took the same time to reach just 100,000.
Pre-registration for Mighty River Power shares has cracked 335,000 in 10 days.
New Zealanders have until March 22 to pre-register their interest.
Those who do may be allocated up to 25% more shares than those who do not pre-register – if demand for shares exceeds the number of shares available.
Pre-registration numbers had reached 335,374 before 9am today, which has reportedly “pleased” state-owned enterprises minister Tony Ryall.
The number compares with the 220,000 New Zealanders who pre-registered for shares in Contact Energy in 1999. That offering took 10 days to reach the 100,000 pre-registration mark.
Craigs' Investment Partners’ head of research Grant Swanepoel told NBR ONLINE the figure for Mighty River Power pre-registration is “no better or worse than we expected”.
He says the company is seen as a New Zealand gem and people trust it.
Provided the price is right when the shares are offered, he expects most of those who have pre-registered to turn into investors.
“Pre-registration isn’t just one click ... people have to be serious about it if they want to enter their details and IRD number.”
Blair Cunningham
Thu, 14 Mar 2013
Thu, 14 Mar 2013
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Mighty River pre-registration exceeds 335,000
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