Genesis shares stag 17 percent at listing, trade at $1.81

Thu, 17 Apr 2014

April 17 (BusinessDesk) – Shares in the partially privatised Genesis Energy debuted on the NZX this afternoon, rising 26 cents, or 17 percent, from their $1.55 issue price, to $1.81 in the first minutes of trading. Genesis is the last of three vertically integrated electricity generator-retailers to be subject to partial privatisation in the last 13 months, in a programme that has raised a total of $4.7 billion, $733 million of it from the sale of 49 percent of Genesis. The IPO process attracted 68,000 retail investors, similar to the Meridia...

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