Mighty River Shares cost $2.50

Created on May 8, 2013

The Government has announced that Mighty River Power shares will cost $2.50 each.

Yesterday Finance  Minister Bill English and State Owned Enterprises Minister Tony Ryall announced the price.

The sale sale of the State Owned Asset achieved 86.5 percent New Zealand ownership, Mr English said. This included a total of 113,000 individual owners.

The sale of the power company earned the Government $1.7 billion and New Zealand retail investors were allocated $943m worth of shares.

New Zealand will retain a 51 per cent stake in Mighty River and Prime Minister John Key has said he is confident the company will be 85 to 90 per cent owned by New Zealand entities.

Mighty River, the first company to partially sold under the Government’s flagship “mixed ownership model” policy.

The company will list on the NZX on Friday
.