The Mighty River share offer does not close until tomorrow but plans already underway to sell stakes in the other two state owned electricity generators.
It appears Treasury is keeping the option of selling stakes two more companies later this year.
The Wall Street Journal reported overnight that the Treasury has called for investment banks to tender for leading roles in the partial privatisation of Meridian Energy and Genesis Energy. The report said pitches for the work were due by the end of this month.
This morning a spokeswoman for Treasury confirmed the agency was ”undertaking preparatory steps for the next IPO/s, including selecting JLMs [joint lead managers].”
She added: ”Ministers have indicated publicly that they would like to see at least one more IPO [initial public offering] in 2013, subject to market conditions and the preparedness of the companies.
”No decisions have been made about which company will be next, or the timing of any offer.”
I am really looking forward to the Meridian float. Their strategy to date has impressed me, and I think they will do well in future. I wish they’d spin off Powershop so I could buy shares in them directly also!
Final day to buy MRP shares is today. I reckon whatever price they are at below $2.80 will be down to the Green/Labour sabotage tactic. So if buying 2,000 shares and they are at say $2.50, then Greens and Labour will have saved me $600. I’m tempted to donate my savings to National as a campaign donationTags: Asset Sales