CORRECT: Napier Port priced at top of the range; locals nab 20%

Wed, 07 Aug 2019

(Fixes level of priority entitlements, adds detail in 2nd paragraph) By Paul McBeth Aug. 8 (BusinessDesk) - Napier Port shares will sell at $2.60 - the top of the indicated range - after a bookbuild was significantly oversubscribed and investors at the front of the queue picked up a fifth of the stock on offer. Hawke's Bay Regional Council will receive $234 million for the 90 million shares, or 45 percent of the port operator it is selling. Of the 7,591 staff, iwi and locals who applied for their guaranteed allocation almost 90 percen...

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