Govt says it won’t list Kiwibank but still opens door to its float

Is finance minister Grant Robertson removing doubt or opening the door to a float? (Image: Getty)

Fri, 02 Dec 2022

An amended constitution for Kiwibank lodged with the Companies Office explicitly opens the door for the government to float it on the New Zealand stock exchange (NZX).The new constitution adds four clauses not in the previous version and removes four clauses.But the key new clause, titled “Nature of the company”, explains that Kiwibank is a registered bank owned by Kiwi Group Capital, making it a subsidiary of a company named in Schedule 4A to the Public Finance Act.According to the Treasury’s website, companies named in this...

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