MightyRiver shares to float at $2.50, in lower half of target range

Wed, 08 May 2013

by Pattrick Smellie May 8 (BusinessDesk) - MightyRiverPower shares will list on the NZX at 12.30pm this Friday at $2.50 a share, in the middle of the $2.25 to $2.80 range announced when the MRP prospectus was released last month. Some 113,000 New Zealanders, about a quarter of the 440,000 who registered interest in the shares, have bought a slice of the state-controlled electricity generator and retailer, which will remain majority-owned by the government with a 51 percent shareholding. The sale will raise $1.7 billion, effectively valuing...

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