John Key announced:
The Government will ensure New Zealanders will be at the front of the queue for shares in Mighty River Power, with Prime Minister John Key today announcing further details about the sale of shares in the energy company. …
“Accessibility to the share offer is also broadened with the minimum application size of $1000 for Mighty River Power shares, meaning a wide range of New Zealanders will be in a position to apply.
“Those New Zealanders seeking up to $2000 worth of shares will not have their offer scaled back. In other words, New Zealanders applying for up to $2000 worth of shares are guaranteed to receive the shares they apply for.
“Big institutions aren’t getting any guarantees, so this is another way we’re putting everyday New Zealanders at the front of the queue,” Mr Key said.
These are both good. A minimum package of $1,000 will allow many Kiwis to purchase shares – and if short of cash, they should follow Labour’s advice and borrow some money so they can buy the shares.
A guarantee that you can get at least $2,000 worth is also excellent. I’d recommend those families with enough cash or savings buy $2,000 in each of their kids names – can even be the start of a trust for them.Tags: Asset Sales