Investors should wait until after Z Energy float to buy shares at a lower price, Morningstar says

Tue, 13 Aug 2013

By Tina Morrison Aug. 14 (BusinessDesk) – Investors would be better to wait until after the Z Energy float to buy shares in the petrol station chain as volatility in the sector means the price is likely to slip in the future, according to research house Morningstar. Z Energy, owned by infrastructure investor Infratil and the New Zealand Superannuation Fund, will list on the New Zealand stock exchange on Monday, with the issue price via a book build expected to be between $3.25 and $3.75 a share. That is higher than the $3 fair value calculate...

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