Sharechat Logo

TrustPower in demand

By Phil Boeyen, ShareChat Business News Editor

Wednesday 9th May 2001

Text too small?
TrustPower (NZSE: TPW) shareholder Alliant International NZ is after another major chunk of the company.

Alliant says it want to purchase up to 41.5 million ordinary shares and/or up to 14.975 million convertible notes representing up to 20.93% of the total equity securities of the Bay of Plenty-based electricity business.

Alliant International NZ is a subsidiary company of Wisconsin-based Alliant Energy which together with utilities investor Infratil (NZSE: IFT) owns a major share of Trustpower.

The price range has been set at between $3.20 and $3.60 per equity security.

Infratil is also obliged to give its own restricted transfer notice because of an investment agreement with Alliant which gives it the option to acquire 60% or share of the shares that Alliant purchases.

TrustPower shares closed today up 32 cents at $3.37.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

TrustPower, Ngai Tahu Holdings may invest $106M in Ruataniwha water scheme
TrustPower generated less energy for fewer customers in the first quarter
Transpower to pay government special div of $65.7M from d-cyphaTrade sale
Transpower sells derivatives trading unit d-cyphaTrade to ASX for A$55 mln
TrustPower pays $13.7 million for Energy Direct NZ to widen customer base
TrustPower FY earnings fall 6 percent on dwindling customers, thinner margins; shares gain
TrustPower sets interest rate on seven- year bonds
TrustPower looks to raise $125M in bond sale
Transpower runs $30 million over budget on North Island upgrade
TrustPower pushes margins, sheds customers for 16% earnings rise