UPDATED Meridian debuts at $1.08 after tepid IPO lures smaller pool of kiwis

UPDATED Meridian debuts at $1.08 after tepid IPO lures smaller pool of kiwis
(Updates shares, adds investor comment in third paragraph) Oct. 29 (BusinessDesk) - Meridian Energy’s instalment receipts debuted at $1.08 after tepid demand in the initial public offering saw the stock sold at the bottom end of its indicative range and with a smaller-than-expected pool of investors. The shares were offered in instalment receipts to sweeten the offer, with $1 upfront and the promise of full entitlement to dividends, and the remaining 50 cents in May 2015. The float will raise $1.88 billion after the two instalment payment pr...