The Mighty River IPO
Bill English and Tony Ryall have announced details. They are:
- Pre-registration period will begin tomorrow
- Pre-registration period ends 22 March
- Offer document in mid April
- A 3 week offer period after that when individuals can apply for shares
- After the individual offers, institutional investors can apply
- Main listing on NZX and secondary listing on ASX, because some institutions with NZ investors could not apply without an ASX listing
- Sale process to conclude mid May
- minimum share application will be $1,000
- All NZers guaranteed at least $2,000 of shares without scaling back if they apply
- The loyalty bonus for NZ retail investors will be detailed before the share offer opens
I’m looking forward to buying some MRP shares, especially as I was banned from being able to buy Contact Energy shares when they were floated.
Likely to but Meridian shares also. Not so sure about Genesis, and also unsure about Air NZ. Air NZ is one of the more successful airlines, but it is a very temperamental industry.
A for Solid Energy, I suspect I could buy it with my collection of loose change – a good reminder of why the Government shouldn’t own risky competitive businesses. Their jobis to regulate not own.