These are available now so investors and their advisers have time to read information about the offer before making an investment decision. Make sure you take time to read the offer document before you decide whether or not to invest. If you have more questions or don't understand what you are being invited to invest in then seek financial advice - see 'What sort of financial advice should I obtain and who can provide this for me?
What sort of financial advice should I obtain and who can provide this for me? Personalised advice - this is advice tailored to your personal circumstances about whether the shares are suitable for you, and can be provided by an Authorised Financial Adviser AFA. Class advice - this is generic advice relevant to a group or 'class' of people with similar characteristics and circumstances as you such as age and risk appetite and can be provided by an AFA, a Registered Financial Adviser RFA or a QFE Adviser such as an adviser employed by a broker, bank or other financial institution.
Class advice might also be issued generally by an entity such as a financial institution or bank. Class advice does not take into account your personal situation. Ask the person who is providing you with advice to explain what sort of advice they are providing. If they can't give you a satisfactory explanation, then you may want to consider changing your adviser.
No, not necessarily. You can purchase shares on an 'information only' basis sometimes called 'execution only' or 'direct' through a broker, or through some banks who are involved in the MRP offer or through other financial institutions.
You can also purchase shares directly. You should however take steps to ensure you are fully informed about the MRP offer. See below: 'What else should I do before I make any decisions? We encourage all investors to understand what they are investing in. You should make your investment decision only after carefully considering the information contained in the offer document, once it becomes available.
Pre-registration simply lets us know you are interested, and helps us to give you access to the offer document when it is available. Who can pre-register? Pre-registration is only available to New Zealanders. In order to qualify as a New Zealand applicant, you must supply, as part of your application for shares in Mighty River Power when the share offer is open , a:.
Valid IRD number; and 2. Valid New Zealand bank account; and 3. New Zealand address; and 4. A declaration that you are a New Zealand citizen or permanent resident in New Zealand. If you don't have an IRD number or bank account you should arrange for these now before the share offer opens. If you are considering applying for Mighty River Power shares on behalf of your children or grandchildren you will need to make sure they have their own IRD number and bank account.
When can I pre-register? You can pre-register from Tuesday 5 March to 22 March How do I pre-register? You can do that via the website or a call centre. Details will be released on 5 March. Who will be able to apply for Mighty River Power shares? Institutional investors in New Zealand and certain other jurisdictions will also be able to apply. Once the share offer opens, you will be able to apply online on the website or by using the paper application form in the offer document.
You will not need a broker to be able to apply for shares. However, if you seek advice from a broker in relation to the Mighty River Power share offer, you should not have to pay brokerage. How much will Mighty River Power shares cost?
The price of Mighty River Power shares has not yet been determined. Details of the share offer, including how the price will be set, will be contained in the offer document, which is expected to be publicly available in April When will the Mighty River Power share offer open?
Finance Minister Bill English said the shares rose as expected on their NZX debut while confirming that the next power company to be put on the block will be named in the budget next week. He will make an announcement on the next float in the budget on May 16, he said.
Some 24 million shares have changed hands so far today. The debut catapults the company into fifth place among the top 10 domestic stocks on the market by value. The 9. The Fonterra units ended their first day up26 per cent.
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