Key confirms Meridian float, will lodge offer document on Friday

The government will go ahead with its planned partial sale of Meridian Energy and will lodge the offer documents on Friday.

Prime Minister John Key confirmed the partial privatisation at today's post-Cabinet press conference in Wellington, saying pre-marketing will begin tonight with a listing aimed for Oct. 29. The indicative price range will be included when the prospectus is lodged with the Companies Office on Friday.

The Meridian sale would be done in a staggered process where investors would pay 60 percent of the offer price, and the balance over the next 18 months after receiving full dividend payments during that period.

The government is still considering whether to sell down its stake in national carrier Air New Zealand and Genesis Energy, Key said. If the Genesis sale goes ahead, it will be in the first half of next year.

BusinessDesk.co.nz

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

EROAD Appoints New Director Progressing Board Renewal
OCA delivered record full year result
BLT - Strong revenue and underlying earnings growth
MFB - Food Bag reports full year profitability up 5.3%
TWR - Tower reports strong HY earnings
IPL - FY26 Annual Results
May 21st Morning Report
May 20th Morning Report
May 19th Morning Report
PYS - PaySauce to announce F26 full year results on 27 May 2026