NZ government to sell full 49 percent of Genesis Energy, with instos, brokers offered 40 percent

Wed, 26 Mar 2014

March 26 (BusinessDesk) – The government will sell 49 percent of Genesis Energy in the last of its scheduled asset sales after feedback from institutions and brokers gave it confidence it didn’t need to reduce the size of the selldown. Institutional investors and New Zealand brokerages will be offered 40 percent of the company, or 400 million shares, through a bookbuild that opens tomorrow, Finance Minister Bill English and State Owned Enterprises Minister Tony Ryall said in a statement. So-called mum and dad investors will then be offered u...

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