MRP shares dip below $2 as English explains asset sales shortfall

MRP shares dip below $2 as English explains asset sales shortfall
By Paul McBeth Dec. 4 (BusinessDesk) – Shares of partially privatised power company MightyRiverPower dropped below $2 for the first time since listing at $2.50 in May, as Finance Minister Bill English outlined reasons for cutting the government’s expected proceeds from its asset sales programme. MRP hit $1.99 in early trading on the NZX, while instalment receipts for Meridian Energy dropped to 93.5 cents, compared with their listing price of $1. The continuing slump in the government-controlled power companies’ share price performance comes...