MightyRiverPower shares dip below $2.50 offer price

Mon, 20 May 2013

May 20 (BusinessDesk) - Shares in MightyRiverPower, which the government partially privatised earlier this month, dipped below their $2.50 float price in afternoon trading, 10 days after listing on the stock exchange. The shares traded as low as $2.48 before recovering to $2.50, with about 366,000, or 0.03 percent, of the company changing hands below the initial public offer price. The stock rose 4.8 percent on debut, and has shed those gains since the listing 10 days ago. Last week Finance Minister Bill English announced Meridian Energy w...

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