Genesis details

Bill English has announced key details:

• The shares will be priced at the start of the offer period, rather than at the end as occurred with the previous share offers.
• The Government expects to sell between 30 per cent and 49 per cent of the shares in Genesis.
• The Government will offer a loyalty bonus scheme to eligible New Zealand retail investors

Also no shares will be offered to US institutions as it creates too much paperwork and hassles under US law.