Thursday, March 21, 2013

Good news on Mighty River Power

The news on the Mighty River Power share float just gets better and better; Stuff reports:

Prime Minister John Key says New Zealanders will be prioritised for Mighty River Power shares and if there's enough interest they could squeeze out foreign buyers altogether.
The Australian Financial Review reported today that Australian and other overseas investors were set to be offered up to 30 per cent of shares in the state-owned company.'

And a very signifcant number was surpassed yesterday; read on:

A milestone was reached today when 400,000 New Zealanders pre-registered their interest in buying shares when a 49 per cent stake goes on the market later this year.
The Government has said throughout that 85 per cent to 90 per cent of shares would be held by New Zealanders, including the Government's 51 per cent shareholding. That suggests about 70 per cent of the stake about to go on the market will be held by New Zealanders and the rest may go offshore.
But Key indicated today the Kiwi shareholding could go even higher.
"Our intention is to put New Zealanders at the front of the queue," he said.
"My view is that's got to be no less than 85-90 per cent held by New Zealanders.
"I'm sure there may well be interest from Australian institutions and Australian individuals but in the end we've seen 400,000 New Zealanders pre-registering. They'll be at the front of the queue as will New Zealand institutions." 

In just 15 days, more people have pre-registered for Mighty River Power shares than signed the Labour/Green Political Party Initiated Referendum petition in ELEVEN MONTHS. Russel Norman and co can spin this however they want, but politics is a numbers game, and the numbers are very much in John Key's favour. And it is clear that a huge volume of shares will go to everyday New Zealnders; that's just what the intent of the share float was.

Let the sale of Mighty River Power shares commence!


Big Bird said...

My dog is sooooo looking forward to getting his shares! He going to register some more!

Anonymous said...

I am definitely a buyer. I pre-registered on the day and intend to proceed. I cannot understand why anyone with half a brain can object to the sale of the shares. I live in NZ, always have done, but derive my income from a business in OZ. This is a better opportunity than anything on offer in OZ. The projected part "asset" sales are enticing too. Come on Kiwis get into this!


Cookie Monster said...

Big Bird has dog who can use internet. Big Bird also has access to best drugs on Sesame Street.

Jarad said...

Why would anyone be as stupid as to buy shares that they already own?
30% to overseas investors? So those silly NZ buyers will be nothing. The signatures against the sales has no government and national TV campaign... and it is not based on trickery and brain washing... Greed is leading the blind now... fools led by fools.
You really think Key cares if NZers own shares...!! That is hilarious!!! This is the man who dirty work brought down the Irish economy.