Meridian shares priced at $1.50 ahead of Oct 29 sharemarket float

Wed, 23 Oct 2013

By Pattrick Smellie Oct 23 (BusinessDesk) – Meridian shares will be issued at a listing price of $1.50, the bottom of the indicative range of $1.50 to $1.80 and with a much smaller investor pool than the government had hoped for. Some 62,000 New Zealand investors put their money into Meridian, despite huge efforts through advertising and the structure of the offer to attract retail “Mum and Dad” investors, compared with 113,000 for MightyRiverPower, which listed in May at $2.50 a share, but has traded down to $2.20 since. The float will rai...

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