BlackCrossInResidence

$2.50 with private investors getting on average 80% of that applied for (larger private investors will be scaled down).

For stags he most interesting quote I've seen is from SOE Minister Tony Ryall who said ....."The demand from institutional investors was strong, and bids from both New Zealand and offshore institutions were scaled considerably...". If he's not lying (and he is a politician) then that ought to indicate a decent premium on opening day.

Charismatic

Glad I didn't stay in on that. Looking back actually I don't think it was worth the risk in retrospect, if I'm to scrounge through another government shit offer it'll have to be better value.

With the high NZD you'd have to be mad not to be looking at offshore investments at the moment, it's all gravy out in the real world .

Robbie2010

Glad I decided not to buy! ... There was only one way they were going to go once Genesis decided to invest.

BEVS

Clappy

Drat! I forgot to take that into consideration.

pitman

I see no noticeable future gains,so it`s a no from me :-)

Charismatic

Could be a play here on 'lecky though if National can keep in office for another term. Much pricing is assuming that the Lab/Greens plan will cheapen supply but I think if they lose next term they'll shred their manifesto and head towards the center.

Not MRP though, you can do better (I expect it'll bounce as price stabilizes and funds buy in buy this is not yet a value proposition IMO).

Charismatic

$2.20 already and little depth to trading.

Charismatic

Staged a little recovery and now back at $2.18.

Will be interesting to see what the Meridian sale might look like in terms of value.

kiwigeordie

It's interesting that the gummint has struck a deal with the Aluminium Smelter regarding power supply for a period of (if memory serves) 4 years.
This, just before the share float of Mighty River - a major power supplier.

Also interesting is that the deal does not include any safeguards for the continuity of the Smelter workforce and seems to have been solely designed to keep the share float an attractive proposition to the public.

So, we have now seen Warner Bros dictating our domestic employment policy (and to hell with the workers) and we now have Rio Tinto screwing the greedy Nats so the share float will not be de-valued and let the workers take their chances that they will continue to be employed.

Up the Revolution!

Pete

Charismatic

Government supporting the price with a buy-back.

Good game though, for every share they sold at 250 but buy back at 225 they make 25 for treasury. In some ways it makes sense to buy back at any price under 250.