Investors to pay 60 percent of Meridian offer price in first tranche

Mon, 19 Aug 2013

Aug. 20 (BusinessDesk) – The government will sell down its holding in Meridian Energy via instalment receipts as investors pay 60 percent of the offer price in the first tranche with the aim of a listing in early November, Prime Minister John Key says. After the lacklustre stock market performance of MightyRiverPower, the government is betting that instalment receipts will ensure the market can digest the sale of the biggest state-owned power company. The second payment for the shares is due 18 months later but in the meantime, shareholders...

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