Mums and Dads will pay $1.60 at most for Meridian shares

Thu, 19 Sep 2013

By Pattrick Smellie Sept. 20 (BusinessDesk) – Meridian Energy shares are likely to list at between $1.50 and $1.80 apiece, but the highest price a retail investor will pay if they buy shares in the float will be $1.60, according to the offer documents released this morning. The low end of that range gives Meridian a market capitalisation of $3.8 billion and the top end puts it at $4.6 billion, meaning the government can expect to raise between $1.9 billion and up to $2.3 billion from the sale of a minority 49 percent of the shares in its lar...

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