MightyRiverPower shares rise 4.8 percent on debut as investors beef up their holdings

Fri, 10 May 2013

By Tina Morrison May 10 (BusinessDesk) –MightyRiverPower shares rose 4.8 percent from their offer price in their first day of trading on the NZX as investors added to their holdings after receiving less stock than they asked for. Shares in the state-controlled power company edged up 12 cents to $2.62 from their $2.50 initial public offering price. Trading was within the offer range of $2.25 to $2.80. Some 63 million shares, about 11 percent of the available stock, changed hands. "Shareholders who bought into it will make money," said Milfor...

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