last new zealand energy soe to be listed in april
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Last New Zealand energy SOE to be listed in April

Arab Today, arab today

Arab Today, arab today Last New Zealand energy SOE to be listed in April

Wellington - XINHUA

New Zealand's government on Thursday announced that Genesis Energy, the last company to go on the market in its controversial asset sales program, would be listed on the New Zealand stock exchange on April 17. The share offer would open on March 29 and include a bonus share for every 15 held by New Zealand investors for 12 months after the allotment date, Finance Minister Bill English and State Owned Enterprises Minister Tony Ryall said in a statement. "The government has said it will sell between 30 and 49 percent of Genesis Energy and the exact amount to be sold via the bookbuild will be announced on March 26, before the bookbuild opens," English said. "Proceeds from the sale will go in to the Future Investment Fund, which has so far raised about 4 billion NZ dollars (3.42 billion U.S. dollars) for investment in assets like schools and hospitals, without the need for borrowing from overseas lenders," said English, who claimed in 2011 that the sales would net 5 billion to 7 billion NZ dollars (4.28 billion to 5.99 billion U.S. dollars). The indicative share offer price range had been set at 1.35 to 1.65 NZ dollars (1.16 to 1.41 U.S. dollars) per share with the final price to be announced on March 28. The government was committed to at least 85 percent New Zealand ownership including the government's own majority shareholding at the time of the float, the ministers said. The partial sell-down of Genesis follows the float of 49 percent of Mighty River Power and Meridian Energy and the sell down of 20 percent of the government's holding in Air New Zealand to 53 percent last year. The main opposition Labor Party described the sale details as " a politically expedient last ditch effort to flog off New Zealand' s silver before the election" on Sept. 20 and called on the government to abandon the sale. "The government said it would get widespread New Zealand ownership from its asset sales. Mighty River Power got 112,000 investors, Meridian got 63,000 and Air New Zealand just 6,500," Labor state-owned enterprises spokesperson Clayton Cosgrove said in a statement. "Yet again, taxpayers will be picking up the tab for this bonus scheme, on top of the hundreds of millions they have already paid in brokers fees, sales gimmicks and marketing." The government said last month it would not be selling any more shares in state-owned enterprises or mixed-ownership companies either this term or after the general election. A nationwide referendum in December last year resulted in 67.2 percent of voters opposing the sales of up to 49 percent of the energy companies and Air New Zealand and 32.5 percent supporting them.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

last new zealand energy soe to be listed in april last new zealand energy soe to be listed in april

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

last new zealand energy soe to be listed in april last new zealand energy soe to be listed in april

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday