Government to raise up to $1.9B in MightyRiverPower share float

Fri, 05 Apr 2013

By Pattrick Smellie April 5 (BusinessDesk) - Shares in the partial privatisation of state-owned power company MightyRiverPower are expected to be priced between $2.35 and $2.80, with uncertainty about the future of the Tiwai Point aluminium smelter expected to skew pricing to the bottom of that range. That means the government expects to raise between $1.6 billion and $1.9 billion in the politically unpopular initiative, which has nonetheless attracted registrations of interest from some 440,000 New Zealand-based investors. With $1,000 the l...

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