Share price set at $2.50

May 8th, 2013 at 8:47 pm by David Farrar

The Govt has announced:

113,000 New Zealanders will become shareholders in following a successful share offer, Finance Minister Bill English and State Owned Enterprises Minister Tony Ryall say.

The final price will be $2.50 per share.

Of the shares issued, 86.5 per cent will be New Zealand owned: 26.9 per cent by New Zealand retail investors, 8.6 per cent by New Zealand institutions and with the Crown retaining a majority 51 per cent shareholding. That leaves 13.5 per cent for overseas institutions.

“This is an outstanding result and fulfils our commitment to ensuring at least 85-90 per cent New Zealand ownership of the company,” Mr English says.

“The share offer will raise $1.7 billion, which is a very good return for New Zealand taxpayers. Those proceeds will go into the Future Investment Fund, allowing the Government to control debt while continuing to invest in public assets. More details will be announced in next week’s Budget.

“The Government has achieved all of its objectives for the Mighty River Power share offer, so the company will list on Friday.

“Given the strong response to the share offer, and the price we have set, Mighty River Power will have a market capitalisation of $3.5 billion.

“And with over 110,000 New Zealand shareholders, it will have the largest share register – by some margin – of any New Zealand company on the exchange.”

Mr Ryall says that due to the strong level of demand, some scaling has been necessary.

“We have decided to apply progressive scaling, which means that larger applications are scaled more than smaller ones,” Mr Ryall says.

“That means that more than 80 per cent New Zealanders will get what they applied for.”

Yay, this means I’ll get all the shares I applied for. It also means I picked up the shares for around $600 cheaper than they might have been, thanks to Labour and Greens.

I will get 2,000 shares, which is 214 more than I would have got if the price was $2.80. Assuming the real value is $2.80 if the nationalisation policy never eventuates, then those 214 bonus shares are worth $600.

68% of applicants did not have a CSN number, which implies they are first time investors. That is great, because having more people invest in capital markets is a good thing.

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145 Responses to “Share price set at $2.50”

  1. duggledog (1,491 comments) says:

    I had picked $2.40 but that seems reasonable.

    God knows how much $$ Grebour shot out of the economy thanks to what amounts to spiteful meddling. Wankers

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  2. ross69 (3,652 comments) says:

    Hidden due to low comment rating. Click here to see.

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  3. RF (1,363 comments) says:

    I see the boil suckers from the left will be out in force trying to play down their massive fail. Pillow biters such as ross69 will be sitting there with fingers in both ears chanting lah la lah.

    So pleased the shares are selling well.

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  4. Johnboy (15,891 comments) says:

    I’m rapt at Russel and Davids intervention. I was expecting 3200 shares approx and will get 3600.

    Who needs costly financial advisors when you can get better help from dumbfuck lefty pricks for free! :)

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  5. expat (4,048 comments) says:

    Every valid signature cost the tax payer > 1 nzd, union members lost hours of productive work time and you still fucked it up Ross, doesn’t bode well for a green labour administration eh boy

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  6. Pete George (23,422 comments) says:

    Greens are going all out on Twitter trying to score something out of this. Contradictory position claiming their timing of power announcement can’t be blamed but criticising getting less then some expectations.

    And they are trying to claim valid petition signatures versus share purchasers shows majority of New Zealand is against the asset sales. Claiming more fake registrations than fake signatures.

    @asdeos
    If more verified sigs were on petitions compared to buyers of MRP, then its a pretty fair call to say ‘kiwis opposed’

    Won’t accept that the two things are incomparable. If you want to one up their stupidity you could say more people registered interest in MRP shares than registered (signed) interest in referendum.

    Much like ross69, singing the same unbelievably ignorant chorus.

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  7. Johnboy (15,891 comments) says:

    Once they get their greedy little hands on the exchequer expat we will never get to see what the turds squander.

    Their dumb supporters will be the ones who suffer unfortunately as the rich will do what they always do when socialists take over! :)

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  8. Nostalgia-NZ (5,085 comments) says:

    That’s a lot of mum and dad investors, I suppose they’ve all signed up as mum and dad, or mum and mum, or dad and dad. I hope they can all manage a x as their signatures, something that will have a symbolic meaning as to parting with their money.

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  9. Pete George (23,422 comments) says:

    Labour/IrishBill pushing the same ridiculous comparison:

    (spoiler: less than half the number of people who signed up to oppose asset sales signed up to buy).
    http://thestandard.org.nz/caption-contest-50/

    People who bought shares actually get something which will probably grow into something more. People who signed the petition get a lemon referendum and will end up with nothing (but I guess they started with nothing).

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  10. ross69 (3,652 comments) says:

    Hidden due to low comment rating. Click here to see.

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  11. expat (4,048 comments) says:

    What would Brian ‘Clint’ Boitano do?
    http://www.youtube.com/watch?v=sNJmfuEWR8w

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  12. Johnboy (15,891 comments) says:

    All my Sheep (with IRD numbers) have been taught to stamp an X when the taxman cometh N-NZ! :)

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  13. Nostalgia-NZ (5,085 comments) says:

    By crikey, I got 2 thumbs down already.
    It appears there is not much confidence in this latest ‘facebook’ float.
    Well heck.

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  14. ross69 (3,652 comments) says:

    So pleased the shares are selling well.

    With more than 97% of the population not buying, Christ knows how you would define a poor sale.

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  15. Nostalgia-NZ (5,085 comments) says:

    Good work Johnboy.

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  16. expat (4,048 comments) says:

    Utilities don’t usually tank nostalgia so that’s why the negs

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  17. expat (4,048 comments) says:

    Ross, do you get paid 1.5 for the OT?

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  18. Nostalgia-NZ (5,085 comments) says:

    3 on the latest, even though I changed tack.

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  19. ross69 (3,652 comments) says:

    People who bought shares actually get something which will probably grow into something more.

    You’re missing the point, Pete. If buying shares was a no-brainer, why did so few people take up the offer?

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  20. lofty (1,305 comments) says:

    Thanks grebour I now have 4000 shares 429 more than I was expecting.
    You bloody beauties.
    Mmmmm what is the bonus issue again?

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  21. Simon (727 comments) says:

    size of the state ever so slightly reduced which means in NZ for quite some time livings standards are raised due to govt action. Together with DOC getting rid of 80 jobworths it has been a good couple of days.

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  22. Johnboy (15,891 comments) says:

    I gave you a plus N-NZ…….cause you were nice to me at 9:12!

    I always tip whores generously! :)

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  23. expat (4,048 comments) says:

    Its called the normal curve Ross.

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  24. hannity (152 comments) says:

    113.000. ?

    What happened to the 400,000. John Key bragged about .

    Turns out a massive 75% were bogus.

    No wonder Key was too embarrassed to front today.

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  25. lofty (1,305 comments) says:

    Now on to Genesis…….another 4000?

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  26. Johnboy (15,891 comments) says:

    Decided not to buy in then did you hannity? :)

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  27. expat (4,048 comments) says:

    Hannity, a load of people thought they’d buy for kids and grandchildren but the gweens rat fucked confidence so people scaled back, I’m sure you’d understand the concept of reducing risk in the face of retarded rat fucking green idiots.

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  28. Nostalgia-NZ (5,085 comments) says:

    ‘With more than 97% of the population not buying, Christ knows how you would define a poor sale.’

    ‘How about 3% have already brought at an over inflated premium? While of course the other 97% are not as stupid as they look’

    It could work.

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  29. Pete George (23,422 comments) says:

    You’re missing the point ross69. No investment is a no-brainer. Unless you mean no brains investing in schemes like the Ross ponzi being covered on 3rd Degree right now.

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  30. m@tt (630 comments) says:

    The person who compared share registrations to signatures on the petition was John Key. So if you want to paint the dropping of 100,000 signatures as a massive fail, which it is, then the dropping of almost 300,000 prospective share buyers is a cluster fuck of epic proportions according to John Key’s comparative analysis skills.

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  31. RightNow (6,965 comments) says:

    I pre-registered for me and for my kids. Got shares for the kids because they’ll be held long term, but decided to hold off buying for myself as I suspect there’s more to come from the loonies.

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  32. Psycho Milt (2,404 comments) says:

    Hooray! DPF gets to further enrich himself at the expense of his less-fortunate fellow citizens! What a feel-good moment – thank you, National Party.

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  33. lofty (1,305 comments) says:

    I have had a wee think about the next issue, probably Genesis, and yes I will invest another 10k, a small price to pay to spit into the face of the economic saboteurs now known as grebour.
    GREBOUR. the name of the wreckers and haters party.

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  34. lofty (1,305 comments) says:

    Oh c’mon Milt…that’s life pal and you know it.
    Even if the shares went out at 1 cent each, there would still be those unable to invest.
    That’s the market…same way as I cannot yet afford a new Bentley.
    The cookie crumbles like that, or we could all drive those little East German shitters.

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  35. Morgy (171 comments) says:

    I’m one without a CSN and tonight I feel bitter sweet; happy that I have more shares but annoyed by the arrogant wreckers who, with a smile on their faces, reduced the value heading back to the government coffers. Fools leading the blind and ignorant.

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  36. Johnboy (15,891 comments) says:

    Didn’t buy any as well and kickin yourself now then PM? :)

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  37. Griff (7,230 comments) says:

    Result.

    The government realized less value due to lefty’s policy brain farts.

    We all lose.

    Gambling on the election result is far more interesting.

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  38. RF (1,363 comments) says:

    love it… Grebour . wreckers and haters. your typical groin boil suckers. Roll on Genesis shares.

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  39. Nostalgia-NZ (5,085 comments) says:

    I was going to buy 10,000 shares with 3 bottle tops, a piece of silver paper and one of them green stones you can’t get out of your nostril once it’s stuck in, but apparently I was short by 3 dozen frog legs and a buttercup flower.

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  40. Johnboy (15,891 comments) says:

    Those green stones are all owned by Ngai Tahu N-NZ. The curse of Tipene made it stick in your nose! :)

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  41. Morgy (171 comments) says:

    M@tt, $1.7b isn’t a cluster fuck by any measure. Not what it should have been but hey, what’s $200m? Unfortunately that will be seen as a victory to Green/Labour ‘leaders’….sorry…..GREBOUR ‘leaders’

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  42. ross69 (3,652 comments) says:

    So if you want to paint the dropping of 100,000 signatures as a massive fail, which it is, then the dropping of almost 300,000 prospective share buyers is a cluster fuck of epic proportions according to John Key’s comparative analysis skills

    Which might explain why John Key failed to front to announce the share price. He should have been equally quiet when the story about the CIR broke. Once again, he’s made himself look like an Aaron.

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  43. Simon Arnold (107 comments) says:

    The fact that only 3% of NZers wanted to own shares in MRP tells us the government shouldn’t be forcing all NZers to own the remaining 51%. Owning these companies is only of interest to a small minority of us and they should be left to get on with it.

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  44. Nostalgia-NZ (5,085 comments) says:

    You couldn’t give a version of ‘My little butter cup’ by the 3 amigos Johnboy, as fitting as it seems to see your well earned $ going down the gurgler.

    I like the way they swing their elbows and sing in harmony.

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  45. Johnboy (15,891 comments) says:

    I hope you don’t call yourself ross69 cause you’ve spent all your life with your head up your arse ross? :)

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  46. Johnboy (15,891 comments) says:

    I’ve never really worked hard in my whole life N-NZ so I can sing whatever song you fancy.

    I’ve got a little arthritic in my old age so I’ll give the elbow swinging a miss! :)

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  47. Nostalgia-NZ (5,085 comments) says:

    If you can’t give them shares away Johnboy, leave them on a park bench.

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  48. lofty (1,305 comments) says:

    Well ross69 you guys can spin it anyway you want, but when you get down to tin tacks, your communal rhetoric is bullshit.
    I have learnt over a lot of years, and reliance on my fellow man, that when push comes to shove the only person I can rely on is me.
    I could run with the pack as I suspect you and those like you do, or late in life I can run with my family and look after my own interests.
    I will take every advantage to better my families lot, that I can, and you and your bullshit communal philosophy mates can get stuffed. You will always look after number 1 when the shit hits the fan.
    Socialist are no better than capitalists in this world pal, you just paint a grieved facade until you have to shed the cloak.
    Ergo…your opinion and Milts et al are not worth a pinch of goats shit, in my eyes.

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  49. Johnboy (15,891 comments) says:

    Well said lofty. Same again do you think for the next float? :)

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  50. Johnboy (15,891 comments) says:

    Still Aaron said. “Same again peasant” and look what happened to him! :)

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  51. lofty (1,305 comments) says:

    Oh yes Johnboy, without doubt. I can afford it, and this time I will have the same again Sam, without ice…cheers

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  52. krazykiwi (9,189 comments) says:

    Glad to see so many NZ’s become shareholders for the first time.

    I decided to let this offer pass – I have a few, diverse investment streams in play so not keen to divert funds.

    Congrats to all new shareholders.

    Viva la listing!

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  53. ross69 (3,652 comments) says:

    Hooray! DPF gets to further enrich himself at the expense of his less-fortunate fellow citizens!

    Tories never think about themselves at the expense of others. Tui.

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  54. lofty (1,305 comments) says:

    ross69 see my post above….take your communal bullshit and peddle it somewhere else (apologies to DPF) .

    You are a hypocrite and liar…you know as well as I do, that if you have to choose between your political slant and family when threatened you will toss the politics in an instant…… You cannot con a conner, boy.
    Or to be even more blunt, you cannot bullshit a bullshitter, boy.

    Been there done that!

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  55. adze (2,057 comments) says:

    I imagine there are quite a few people like myself who would very much like to buy shares, but for various reasons aren’t able to. Unlike a slacktivist scribble on a clipboard, buying shares actually costs something. So the Greens’ latest false equivalency is predictable but inaccurate.

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  56. Johnboy (15,891 comments) says:

    Cruel, cruel, cruel lofty!!!!!

    Helen or David or Russel would never be so blunt to ross69 re their investment position! :)

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  57. meh (165 comments) says:

    DPF the number of first time investors might be out a bit as those with 8 digit CSNs couldn’t enter them in the webform (guess how I know!) and were advised to not enter a CSN by the supportline as they will match up your details with your CSN later.

    Most happy with the cheaper price, and by the looks of it me, the wife and the sprog will all get what we applied for with no scaling.

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  58. itstricky (1,764 comments) says:

    m@tt

    So if you want to paint the dropping of 100,000 signatures as a massive fail, which it is, then the dropping of almost 300,000 prospective share buyers is a cluster fuck of epic proportions according to John Key’s comparative analysis skills

    Quite right. I’m waiting for the scoffing from DPF. I don’t get why he hasn’t shown up yet to gloat about how 400,000 registered but only 100,000 of those were “real”

    Or any of the other KBers, actually? Were are they all? It’s a quiet thread, a? Hey! Look at this old thread. Someone got 30 up votes for saying the CIR was all rubbish because 400,000 registered for MRP shares.

    Oh well, they can have it both ways of course – they can hurrah that they’ve personally gained because of Labour but at the same time diss. Labour for breaking the system… hmmmm… moral dilemma? Nah, I guess some personalities just know no boundaries when it comes to justifying one’s own position.

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  59. Redbaiter (8,252 comments) says:

    “The fact that only 3% of NZers”

    How many babies, school kids, students, etc etc made a conscious decision not to buy shares do you think you pathetic communist moron?

    The maths you need to do is the number of potential share buyers out there against the actual share buyers. Not the whole population you fucked in the head loser.

    Jesus, why the fuck would anyone with a brain ever vote to give the knuckle dragging left the reins of power in a country?

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  60. itstricky (1,764 comments) says:

    lofty

    I will take every advantage to better my families lot, that I can, and you and your bullshit communal philosophy mates can get stuffed. You will always look after number 1 when the shit hits the fan.

    Really hope you don’t end up a sad lonely old person. Good luck out there.

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  61. lofty (1,305 comments) says:

    Don’t worry about me itstricky I am happy and even normal…I just know the facts of real life that’s all.

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  62. OneTrack (2,966 comments) says:

    “People who bought shares actually get something which will probably grow into something more.

    You’re missing the point, Pete. If buying shares was a no-brainer, why did so few people take up the offer?”

    Because they were simply scared off by the Greens and Labour. They didn’t trust those two not to screw them over when they get back in power.

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  63. Johnboy (15,891 comments) says:

    Some of us put the wife’s, kid’s names on the pre registration itstricky to make sure we got the total shares we wanted if it looked like being scaled. Then when your lot fucked it only bought the shares under one name and canned the rest.

    Oldest trick in the book! :)

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  64. krazykiwi (9,189 comments) says:

    Quite right. I’m waiting for the scoffing from DPF. I don’t get why he hasn’t shown up yet to gloat about how 400,000 registered but only 100,000 of those were “real”

    Long bow much? Because a registration of interest and a purchase decision are not the same thing.

    Mrs kk and I registered so we could have the option to consider investment. In this instance we decided against it (read above), but it would have been foolish to not register and then wish we could have purchased.

    In you ideologically blinded rush to discredit National you overlooked the obvious. Hmm, that’s unfair. I suspect you do this all the time.

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  65. lofty (1,305 comments) says:

    Yup Onetrack, you are right…but the minute people succumb to threats from the grebour party, they may as well roll over and take kick to their privates.
    I would rather invest with the risk than allow those dirty saboteurs the joy of thinking that their bully tactics succeeded.

    I may lose…tough for me, but the long game of democracy is far more important to me and my successors than a few bucks.

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  66. ross69 (3,652 comments) says:

    The maths you need to do is the number of potential share buyers out there against the actual share buyers. Not the whole population you fucked in the head loser.

    Goodness, have a lie down and a cup of tea. And wash you’re mouth out at the same time.

    Let’s say there’s a mere 3 million people who were eligible to buy shares (which is probably close to the mark, notwithstanding that adults could buy on behalf of their kids). That would mean that less than 4% bought shares. So, 3% is a dismal failure but 4% is a roaring success?

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  67. Johnboy (15,891 comments) says:

    itstricky is not very tricky kk. Thats why he is a poor dumb socialist fuckwit that votes Greenie/Liarbour! :)

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  68. Henry64 (83 comments) says:

    I’m a first time investor, not put off at all by the Grebour wreckers.

    NZ Governments have been telling the populace at large for decades that they need to save more and invest in something other than residential property. So an opportunity comes along to do so and Grebour pull their float-wrecking stunt to put people off.

    What kind of message is this sending to first time investors?

    I will be holding onto my shares in the long term, along with making other investments in future floats, bonds etc.

    Nothing fake about people preregistering to buy shares. there is no obligation, it’s only a registration of interest. Grebours spin is weak on that point.

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  69. Johnboy (15,891 comments) says:

    Well said Henry64! :)

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  70. Johnboy (15,891 comments) says:

    Red@10:18…!!!!! :)

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  71. ross69 (3,652 comments) says:

    Because they were simply scared off by the Greens and Labour.

    But shareholders apparently got a good deal and the govt is saying it was a great turnout…now you’re saying investors were scared off. Which version is correct?

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  72. Griff (7,230 comments) says:

    Your point was valid redbaiter however….

    pathetic communist moron fucked in the head loser.Jesus…. fuck … brain . knuckle dragging left.

    http://en.wikipedia.org/wiki/Coprolalia

    Coprolalia is involuntary swearing or the involuntary utterance of obscene words or socially inappropriate and derogatory remarks. Coprolalia comes from the Greek κόπρος (kopros) meaning “feces” and λαλιά (lalia) from lalein, “to talk“.[1] The term is often used as a clinomorphism, with ‘compulsive profanity’ inaccurately referred to as being Tourette syndrome.

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  73. adze (2,057 comments) says:

    The other point is that with 86.5% of the float going to NZ shareholders, that means that just over 93% of MRP remains in NZ hands. Not bad :)

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  74. lofty (1,305 comments) says:

    Griff..with all due respect….what?

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  75. krazykiwi (9,189 comments) says:

    ross69 – stop being moronic.

    Those the purchased got a got a good deal. They paid, and they are happy.

    Some were scared off by the sabotage tactics of the left.

    Some decided not to buy.

    There’s no beat-up story here.

    But keep trying.

    Your desperation is fun to watch.

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  76. Johnboy (15,891 comments) says:

    Quite right adze.

    The only thing worse than those thieving Aussie banks getting their hands on MRP would if if some dumbfuck Aussie politician got his hands on it:

    http://www.google.co.nz/search?q=russel+norman&hl=en&tbm=isch&tbo=u&source=univ&sa=X&ei=wSuKUc_aEcOHkQWzjoGIDQ&sqi=2&ved=0CEAQsAQ&biw=1482&bih=850

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  77. itstricky (1,764 comments) says:

    In you ideologically blinded rush to discredit National you overlooked the obvious. Hmm, that’s unfair. I suspect you do this all the time.

    I don’t agree with the Labour nationalisation policy. I don’t agree with asset sales though, either.

    I’m pointing out that DPF and certain KBers have hammered home the 400,000 number over and over again like some sort of sign that it was a roaring success. Clearly it’s not. And now that it is the opposite – there are many (not just yourself) trying to desperately to justify the fact that it’s so different.

    That justification seems to both gleefully telling the world that you’ve benefited through the Labour policy but at the same time bemoaning them for “playing with the market”. You can’t have it both ways.

    And all the things that were used to hammer down the CIR are being bought out as be qualifiers for showing how good the sale is despite the fact that it pulled 1/4 of it’s potential.

    If you ideologically blind rushed to justify that only 100,000 invested you probably overlooked the obvious fact that you are doing so mearly because you youself have benefited. Remember that most of the population either couldn’t or didn’t. Johnboy and yourself should be a little more, what’s the word? – humble – I think it might be.

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  78. ross69 (3,652 comments) says:

    Some decided not to buy.

    More than 97% didn’t buy. I’m guessing most didn’t buy because they couldn’t afford to and/or felt that as they owned the asset they didn’t need to partake in the sham.

    Some were scared off by the sabotage tactics of the left.

    Wrong, Labour announced prior to the float that power companies’ days of making supernormal profits were over.

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  79. lofty (1,305 comments) says:

    ross69…see above, re conners and conning.
    Noticeable that you don’t endeavour to refute my posts, eh conner!

    Nice job of keeping up the facade though. Well done.

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  80. Griff (7,230 comments) says:

    Lofty my frequent use of the technical term
    wingnut for the psychological condition of conspiracy idealization is noted.
    Red is renowned for his use of random Marxists smears for any one slightly to the left of G Khan.
    Unfortunately his message gets lost in his invective.
    He does not differentiate between his own allies the liberal right and our mutual enemy.

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  81. lofty (1,305 comments) says:

    Griff..ta got it. Not sure I agree though…Red is passionate for sure, and sometimes the message gets, shall we say forceful.
    But that is ok, as most thinking commenters here can sort out the wheat from the chaff.

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  82. doggone7 (769 comments) says:

    Johnboy said “Some of us put the wife’s, kid’s names on the pre registration itstricky to make sure we got the total shares we wanted if it looked like being scaled.”

    And probably waxed lyrical when some people apparently did the same on the referendum petition announced this week!

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  83. Johnboy (15,891 comments) says:

    When we have to fight them on the barricades I’m sure Red will be the one we all follow nonetheless! :)

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  84. smttc (725 comments) says:

    I bought $5,000.00 of this issue to help out the government. Thanks to Labour, the Greens and all the wanky lefties, I have helped myself to a few unanticpated extra shares instead. Oh well.

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  85. krazykiwi (9,189 comments) says:

    You guys are hilarious.

    Last month only **0.87% of NZers flew on AirNZ. Based on your metrics the airline is a failure, the government should be ashamed etc. **1.23% of NZ visited Burger King. Disgraceful. They should pull out of NZ with such a low patronage.

    That 110,000 NZ decided to purchase MRP shares, and in doing so become part of the most widely held NZ company is a great result.

    But do keep up the foaming. It’s the spiteful, envious left at its best.

    ** Figures plucked from, well, you know where.

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  86. lofty (1,305 comments) says:

    See you folks..time for a moi…money to be earned tomorrow so I can take advantage of the next offer.

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  87. Johnboy (15,891 comments) says:

    Not at all doggone7 old chap. Folk were quite entitled to get their sprogs, insane grannies, mad uncles to sign the stupid petition if they wished as long as they were real people with an IRD number. That’s what we did for MRP reggo.

    Once it was obvious that the stupid left had reduced the demand for shares by their traitorous behaviour it was only necessary to use the names you needed to buy the number of shares you actually wanted.

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  88. Johnboy (15,891 comments) says:

    “** Figures plucked from, well, you know where.”

    Not out of where ross69 usually keeps his head I trust! :)

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  89. krazykiwi (9,189 comments) says:

    JB – It wasn’t when I last checked :)

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  90. ross69 (3,652 comments) says:

    Thanks to Labour, the Greens and all the wanky lefties, I have helped myself to a few unanticpated extra shares instead. Oh well.

    Sounds like you’ll be happy when NZ Power gets implemeted. There’s another vote the Left can expect to receive.

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  91. itstricky (1,764 comments) says:

    Yeah, those sorts of comments I’m sure they’d proud of on the Standard. So I wouldn’t gloat too much about the “spiteful” left if I was you, you’re pretty much doing it yourself.

    I think you’ve misread somewhere along the line -: I am pointing out that DPF (and most commentors here) dissed the CIR. Now he is avoiding the fact that the sale hasn’t turned out as big as expected.

    Although I am against asset sales, I couldn’t really give two cents for who has or hasn’t invested.

    If you want to pull the line that 100,000 is a good number of investors then perhaps you should also concede that 300,000 for a referendum is a pretty good number as well. And that’s just to ask the question – you could still say “yes, I want to sell these assets”

    I just remembered how much JB’s comments pretty much contain the same boring insults. Should have blocked that one long ago. I’m off.

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  92. Sir Cullen's Sidekick (868 comments) says:

    Here you go! Labour-Green spin that could come in the next few days:

    – This float is a great failure. Government got only 2.50 per share instead of the high figure of 2.80

    – Only 113,000 bought shares! 290,000 opposed the sale – defeat for the government

    – only 1.9B funds raised

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  93. Redbaiter (8,252 comments) says:

    “But that is ok, as most thinking commenters here can sort out the wheat from the chaff.”

    Well a man can only take so much from these fucking left wing monkeys with their commie crap and their presumption to rule us all and direct our lives when they’re all so fucking thick, as we see here from the shit posted by Ross69 and others, they can’t even do basic maths. Arrogant morons not only dragging this share price down but dragging the living standards of the whole western world down as they spread across our societies like a plague of locusts. When will we ever be rid of this pestilence?

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  94. rangitoto (239 comments) says:

    Ross69 wrote “Wrong, Labour announced prior to the float that power companies’ days of making supernormal profits were over.”

    When are Liarbore going to return all that money they stole off consumers. Maybe sheep has enough cash in his dodgy NY account to pay us back.

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  95. davidp (3,572 comments) says:

    ross69>With more than 97% of the population not buying, Christ knows how you would define a poor sale.

    That indicates that only 3% of NZers are really interested in owning shares in a power company. Rather than forcing them to be investors-by-proxy, the government needs to sell 100% of the shares so that the vast proportion of the population that isn’t interested in ownership aren’t forced to be owners.

    Did the Treuhand have moaners like the Greens and Labour around when they privatised the assets of the East German state? Were any East Germans banging on about not privatising the Number 7 Red October Combine Harvester Factory? After the factory had been sold, were socialists planning a referendum asking people if they wanted to sell the factory or not?

    And what is it with the government and legacy industries? They own Solid Energy, even tho the Greens and Labour want to stop mining coal. Altho as far as I can tell, they want to stop mining but not sack any miners. They own the Post Office even tho many people never ever post anything from one year to the next. And TVNZ doesn’t have much of a future once companies like Netflix set up in NZ. It’s like a portfolio full of travel agency, blacksmith, and CRT television shares. Not so much the family silver as it is finding your great grandma’s ear trumpet in your attic.

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  96. RightNow (6,965 comments) says:

    “If you want to pull the line that 100,000 is a good number of investors then perhaps you should also concede that 300,000 for a referendum is a pretty good number as well.”

    Sure, 300,00 is a great number for a petition for a referendum. Of course it’s not enough to trigger a referendum, but gee what a swell achievement anyway.

    And yes – 113,000 is a great number to attract for a share float. And Meridian and Genesis are up next.

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  97. slijmbal (1,229 comments) says:

    I think anything over $2K spent may get scaled back not 2,000 shares. I read somewhere there will be some scaling back.

    In terms of the numbers, Kiwis have a long memory and remember the wild west days of the late 80s and I know many who would not buy from the sharemarket no matter what. That’s a problem. I am surprised how few otherwise reasonably clued up and reasonably well-to-do people I know will not touch the sharemarket no matter what.

    Getting people in to the sharemarket in such numbers is likely to be a bit of a game changer if Labour/Greens don’t screw it over.

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  98. SPC (5,532 comments) says:

    But of the 440,000 individual Kiwis who pre-registered their interest just 113,000 ended up buying shares.

    That is well below the 220,000 who bought shares in Contact Energy when it floated in 1999.

    http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10882381

    I guess we do not have as many people able to spare the money to buy shares as back then.

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  99. slijmbal (1,229 comments) says:

    “That is well below the 220,000 who bought shares in Contact Energy when it floated in 1999.

    I guess we do not have as many people able to spare the money to buy shares as back then.”

    … or we didn’t have an opposition stating they would sabotage the process if they get in to power.

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  100. MT_Tinman (3,092 comments) says:

    Fantastic stuff.

    For the first time since Ariadne I am a shareholder.

    Now, will someone please get the Labour/Red scum to sabotage the Meridian float, I have far more money set aside for those shares.

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  101. Pete George (23,422 comments) says:

    I guess we do not have as many people able to spare the money to buy shares as back then.

    Not necessarily, there’s all sorts of reasons for choosing to not buy.

    I could have if I wanted to but chose not to. I’ll consider the next floats as well. But I’m considering my priorities amongst debt repayment, power company investment and other investments (which I have).

    Buying MRP shares or not is not a vote. It’s purely a financial/investment decision. Greens in particular (notably Norman and Turei) either don’t get this or ignore it in order to try and score political points. This just demonstrates financial ignorance.

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  102. Pete George (23,422 comments) says:

    And Anthony Robins has just posted MRP sale fail numbers.

    That shows he too is ignorant of or deliberately ignoring basic financial/market knowledge in order to try and justify Labour’s dead horse flogging.

    The MRP sale has probably soaked up much of the interest and spare cash from those likely to buy, making it likely that the uptake from future sales will get progressively worse. Hey Nats – take the hint and quit now. The assets are ours already – they are not yours to sell…

    Trying to talk up failure in future floats. So that seems to be the ongoing the Labour-Green approach – try and trash the markets to try and make excuses for their election disaster in 2011.

    Labour-Green credibility on finance could get worse, but it’s hard to see how.

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  103. ross69 (3,652 comments) says:

    Pete,

    All your bleating won’t change the fact that a miserly 3% of NZers bought shares. The vast majority of people couldn’t afford to buy any. Meanwhile the deficit is projected to grow by $100 million each year. Not to worry, I guess we can borrow to make up the difference.

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  104. Manolo (13,517 comments) says:

    ross69, your socialistic whining is tiresome. Export yourself to The sub-Standard, comrade.

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  105. ross69 (3,652 comments) says:

    Well a man can only take so much from these fucking left wing monkeys with their commie crap and their presumption to rule us all and direct our lives when they’re all so fucking thick, as we see here from the shit posted by Ross69 and others

    When 97% of the population give a one fignered salute, you know it’s the economy, stupid. Don’t be annoyed with me, be annoyed with our illustrious leader, who promised that we’d be a high wage economy just like Australia. I notice he doesn’t compare us to Australia any more.

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  106. Pete George (23,422 comments) says:

    ross69 – you can’t judge why people chose not to but shares. There will be a variety of reasons. I simply decided not to, and I’d bet that’s what the majority were similar, most people aren’t interested in the petty politics you are pushing.

    Are you aware that the financial outlook in Australia isn’t flash compared to here? A Labor government there has squandered good times and is not in a good position to deal with significant financial problems.

    In contrast a National led government here has acted prudently during very tough times and the country is in a position to benefit as the economy improves, as seems to be happening.

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  107. Keeping Stock (10,262 comments) says:

    It cost nothing but a few moments of your time to sign a petition. But 113,000 people have put their money where their mouth is, fronting up with at least $1000. Like Morgy above, I’m new to the market. Like DPF, I’ll be getting more bang for my buck.

    But it is galling to see the Green leadership gloating about how successful its economic sabotage has been. It shows you that all that Norman and Turei care about is politicking, and that they simply don’t care that they have effectively stolen hundreds of millions of dollars from the Government’s coffer. I didn’t like the Greens yesterday, but I dislike them far more this morning and will do whatever I can to keeping them out of government.

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  108. Nostalgia-NZ (5,085 comments) says:

    Noble sentiments KS, ever heard that one about a fool and his money?

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  109. Neil (577 comments) says:

    The result is not surprising. I haven’t read other comments. However when you have to produce the money that is the crunch time. If you have the money you have the ability to make the purchase. No money – no shares.
    New investors need to remember that as a shareholder you are a part owner of MRP not a member of a gambling club.
    There’s an old saying about investing. Time in the market rather than trying to time the market.
    Remember quick sellers ,that the IRD might take an interest in your sale as a capital gain.
    The story of The Hare and the Totoise is very salutory!!!!!

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  110. Ross12 (1,372 comments) says:

    When are Ross69 and others going to wake up about NZ Power. If it gets implemented any benefit ( the lousey $300/yr) will wiped out immediately by increases in the ETS. Don’t tell me that increase will not happen.

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  111. Lance (2,619 comments) says:

    Ha ha ha ha ha ha ha ha

    The unfettered bile spewing forth from the lefties on this thread is hilarious.
    I guess you do have to be quite bitter and twisted to stick your head up your own arse.

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  112. Redbaiter (8,252 comments) says:

    “Meanwhile the deficit is projected to grow by $100 million each year. Not to worry, I guess we can borrow to make up the difference.”

    If your concern was really the size of the deficit, rather than the same old lust for political power, you would be supporting the sale of every government owned enterprise in existence, and not just a part of it, but all of it.

    National are really only fucking around here. Barking when they should be biting. Showing they’re only a little bit less socialist.

    A party with a bit of spunk and the wherewithal to drag the voters to their POV, would sell all the power stations completely along with TVNZ and Radio NZ.

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  113. Lance (2,619 comments) says:

    I don’t often agree with Redbaiter but he is absolutely right about the government should sell TVNZ and Radio NZ. What an appalling waste of space those entities are.
    I think the govt is right hanging onto the power stations though.

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  114. Keeping Stock (10,262 comments) says:

    Nostalgia-NZ said

    Noble sentiments KS, ever heard that one about a fool and his money?

    I certainly have Nostalgia. That’s why I did my due diligence on MRP before splashing out, then increased the size of my investment as a two-fingered salute to the economic saboteurs of the Left :D

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  115. Lance (2,619 comments) says:

    @KS
    Yes, the lefties did us righties a bit favour by bring the share price down.

    Thank you

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  116. nostrils (53 comments) says:

    My mate was scared off buying….
    I think David S and R Norman should be taken out and shot at dawn……

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  117. Pete George (23,422 comments) says:

    I’d keep Radio NZ publicly owned, some degree of public broadcasting is useful but TVNZ should be sold off, they are not useful to the public as a whole.

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  118. Cunningham (836 comments) says:

    ross69 this is nothing to be pleased about. Labour and the Greens have denied the government an extra 200 million dollars which is shameful. Also their announcement has scared off some people who would have bought keeping even more in NZ ownership. They left shoud hang their head in shame at this price. On the other hand I also got some extra shares but it is a bittersweet feeling.

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  119. wreck1080 (3,863 comments) says:

    I’m not sure I’d be so happy. There is certainly a risk you could lose a lot of this due to labour/greens.

    And, they way national is tracking it does not look good for the next election.

    I find it amusing that people are getting so excited about buying shares in just one company. It is like people think they are getting in the early days of the next apple. Get some perspective.

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  120. Keeping Stock (10,262 comments) says:

    @ wreck1080 – if there is one thing that Mighty River Power ISN’T it is a get-rich-quick investment. My investment is a long-term one that will provide a solid return over time by way of a dividend. I certainly won’t be selling the shares during my lifetime; rather, I will look to acquire more over time, which can be passed on to my wife and children as part of my estate when I shuffle off this mortal coil.

    Now bring on the Meridian Energy sale; that’s another well-performed energy company that will be worth owning a small but long-term stake in.

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  121. Rich Prick (1,651 comments) says:

    I’m particularly pleased, although I personally would have preferred a lower price (the Greens and Labour didn’t try hard enough – you bastards!). Ross69, I don’t care about your spin, those who bought paid for the privilege, whereas signing a manky bit of paper costs, and means, nothing.

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  122. wreck1080 (3,863 comments) says:

    @keepingstock: Then i’d assume you have a well diversified portfolio of shares. There is a very real risk in what the greens/labour are proposing.

    This would appear to be a major policy announcement and it would be very embarrassing for them not to follow through.

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  123. emmess (1,418 comments) says:

    With more than 97% of the population not buying, Christ knows how you would define a poor sale.

    So,if you put something to sell on TradeMe and you get less than 110,00 bids from different buyers, is it defined as a failure?

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  124. emmess (1,418 comments) says:

    More than 97% didn’t buy. I’m guessing most didn’t buy because they couldn’t afford to and/or felt that as they owned the asset they didn’t need to partake in the sham.

    Instead of trying to talk for us, why not ask?
    In my case, I support the sales but didn’t buy or even pre-register because my mortgage is still too large. I am paying more than the minimum on my mortgage so I could afford too but choose not too because it was not right for me. I suspect there are hundred of thousands of people in a similar situation to me.

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  125. Keeping Stock (10,262 comments) says:

    @ wreck1080 – not at all. MRP is my first foray into investing in shares, and Meridian will be my second. I’m tempted to throw a few dollars at the Mad Butcher though :D

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  126. ross69 (3,652 comments) says:

    ross69 – you can’t judge why people chose not to but shares. There will be a variety of reasons.

    Pete, it was recently reported that 44% of workers live week by week – they don’t have ANY savings. Most people don’t have thousands of dollars in the bank. People didn’t buy shares because, in the main, they couldn’t afford to.

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  127. ross69 (3,652 comments) says:

    Instead of trying to talk for us, why not ask?

    People have been asked and they’ve answered. Perhaps you haven’t listened.

    http://nz.news.yahoo.com/a/-/top-stories/16864751/almost-half-of-nz-lives-pay-to-pay/

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  128. ross69 (3,652 comments) says:

    “Retirement Commissioner Diana Crossan has estimated that perhaps 30 per cent of retired people now survive on the pension alone, with a further 10 per cent receiving significant family help and a further 20 per cent living on about $100 extra a week.”

    I’m guessing these people didn’t flock to buy MRP shares.

    http://www.stuff.co.nz/business/money/7086049/Reality-check-on-retirement-savings

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  129. Rich Prick (1,651 comments) says:

    Ross69, it wasn’t compulsory. But otherwise, so what?

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  130. Lance (2,619 comments) says:

    @ross69
    Oh please…. retired people can’t afford shares. What a piss weak argument, they have had all their lives to acquire assets, in their twilight years they settle back onto a fixed (lower) income and enjoy themselves. There may be many and varied reasons for not having a significant nest egg but a good chunk of those would have been other priorities.
    Also shares are generally longer term investments, which seems incompatible with retirement.

    The 44% of other people who don’t have savings. How many of those choose to spend all their money and how many are true strugglers? I know people who actually earn quite a bit of income but smoke, drink and gamble it away – not to mention big TV’s, sky, holidays to Fiji.

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  131. SPC (5,532 comments) says:

    The young with growing student debt, the old living on super and the 44% of workers who do not have spare income each week to save, and those workers who do but have yet to develop a pool of savings.

    So the share float was aimed at well under 50% of adults.

    So maybe it was 10% of the 30% who had the means to invest who chose to do so.

    That half the numbers invested this time compared to Contact in 1999 indicates how little the circumstance of working New Zealanders has “improved” since 1999.

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  132. RightNow (6,965 comments) says:

    SPC – how many shares remain unsold?

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  133. SPC (5,532 comments) says:

    Right Now, the real question is how many of the 3% who bought shares will own any shares

    1. at the end of 2013
    2. by the time they receive the share bonus.

    I am picking that only 1.5% will receive a share bonus.

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  134. SPC (5,532 comments) says:

    The 3% level of interest is less than the number in the top tax bracket.

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  135. Boglio (78 comments) says:

    I am retired and lost my shirt in the ’87 sharemarket crash but have picked myself up and done reasonably well since. Pre registered for 7 entities and bought shares for the five grandkids.

    They will be held long term and in the meantime I feel great that rather than taking assets from the 97% I have helped the Government buy new assets that will be held by all New Zealanders.

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  136. SPC (5,532 comments) says:

    It was National who went ahead with sale knowing that most opposed the sale because they were assets that would grow in value and generated good returns.

    However now the assets are to be reduced to 50% public ownership there is greater good for the many from a lower power price (both residential users and business).

    The share market should operate with full disclosure, so Labour and Greens had to inform the market.

    Personally I would have preferred that Labour and Greens adopted the NZ First position of buying back the shares at issue price.

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  137. RightNow (6,965 comments) says:

    SPC – “I am picking that only 1.5% will receive a share bonus.” – 1.5% of the 3% (0.045%)- or 50% of the 3% (1.5%)?

    Anyway, my wife and I both pre-registered, and also pre-registered for our 2 kids. We bought shares for the kids but not ourselves. The shares for the kids will be held for 10+ years, so they’ll receive their bonus shares.

    As for us, as I’ve previously mentioned, we suspect there’ll be more sabotage close to the Genesis and Meridian floats, and since we were less likely to hold long term we’ve decided to wait and see. My preference anyway is for Meridian, and I imagine that’s true for a lot of people who pre-registered. I’ll be far more likely to buy at issue when Meridian is floated, although I doubt we’ll get shares for the kids then (although I suspect their grandparents might want to buy some for them).

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  138. Nostalgia-NZ (5,085 comments) says:

    ‘I am retired and lost my shirt in the ’87 sharemarket crash but have picked myself up and done reasonably well since. Pre registered for 7 entities and bought shares for the five grandkids.

    They will be held long term and in the meantime I feel great that rather than taking assets from the 97% I have helped the Government buy new assets that will be held by all New Zealanders.’

    Good on you. All the best.

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  139. SPC (5,532 comments) says:

    Right Now, as to these shares as investments …

    1. you are right that there are short and long term investments in play
    2. short term investors will soon sell to institutions and then reinvest in the cost free subsequent floats (re-use the same capital to make quick capital gains MRP, then Meridian and then Genesis).
    3. yes long term there is the CG tax free investment (being made before any CGT) with acceptable over the long term dividend returns.

    That said, a lot of this is hype, people could invest in Contact for power company shares for over 10 years.

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  140. RightNow (6,965 comments) says:

    SPC – really though the amount of shares unsold is very important. As is the share price received. These two (less costs) make up the bottom line – how much was raised from the sale.

    I’m rather pragmatic – while it’s great that so many individual Kiwis bought shares, the government did this primarily to raise capital.

    EDIT – yes, that’s another way of saying a lot of this hype :)

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  141. SPC (5,532 comments) says:

    On the wider issue of how one finances ones investment and or spending.

    Rental property investors do not sell assets to finance new investment, they leverage – borrow against existing assets to invest in more.

    Yet government, despite having power companies that will rise and value and that earn good dividend returns, instead sells these assets to finance new investment.

    I wonder which of the two is going to retire well and afford their retirement and which is going to struggle to afford its retirement spending?

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  142. splunket (2 comments) says:

    First time investor & I decided to “dip my feet in the pool” with MRP. Glad I did and will be holding on long term. Looking forward to future IPO’s, will invest again if savings permit. I was surprised at the average investment of $8,220. Wasn’t able to invest nearly that much this time, but we all have to start somewhere.

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  143. Nick Archer (137 comments) says:

    During the 2011 Election John Key at a public meeting in Upper Hutt campaigned on these share floats and explained that the Kiwisaver funds would be able to invest in the shares and that it wasnt politically evil (according to Labour) for them to invest in overseas companies but evil to invest in SOE share floats. In the last debate with Goff, Key then mentioned the kiwisaver funds investing and diluted Goff’s arguments on privatistion (foreign investment bogey man again)…

    Anyway is there any public data available on the amount the main kiwisaver funds are purchasing of MRP?

    The narrative of this whole debate against the partial share floats of the SOEs was set by Labour in the last election campaign and National needs to win more ground again on this debate. Tony Ryall and Bill English doing a good job by mentioning Mum and Dad investors. Now the narrative from Labour and Greens is the whole only 2.5% of population has shares in MRP etc, so National needs to respond with stuff like ‘well over 50% of NZers contribute to Kiwisaver and no doubt their kiwisaver fund will have shares in MRP etc…’

    DPF ‘Yay, this means I’ll get all the shares I applied for. It also means I picked up the shares for around $600 cheaper than they might have been, thanks to Labour and Greens.’

    This means you managed to follow the Warren Buffet investment model with a great investment cause the lower the price when you buy (especially a solid share) means you will get a better future return… Thank you Greens and Labour…

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  144. kiwigunner (230 comments) says:

    $2.49 today. A loss – fair enough.

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  145. kiwigunner (230 comments) says:

    $2.35 today.

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