English says Aust interest in NZ business growing

Bill English has confirmed Mighty River will have a secondary listing on the Australian Stock Exchange. Photo / Rotorua Daily Post
Bill English has confirmed Mighty River will have a secondary listing on the Australian Stock Exchange. Photo / Rotorua Daily Post

Finance Minister Bill English will speak to Australian business leaders just days after announcing Mighty River Power shares will also be listed on the Australian stock exchange.

English's office says his visit today and tomorrow is "part of his regular programme of transtasman engagement".

He will speak to high-level business audiences in Melbourne and Sydney, and meet a number of Australian chief executives and senior business figures.

On Monday the Government said it was confident that between 85 per cent and 90 per cent of Might River Power shares would be held by New Zealanders, including its own 51 per cent stake.

However, English confirmed Mighty River would have a secondary listing in Australia.

"There is nothing at all unusual about that," he said, noting a number of leading New Zealand companies were dual listed.

Today English said Australia was New Zealand's largest trading partner, taking nearly a quarter of our total exports, and its economy was vitally important to New Zealand.

"I have noted an increased interest in New Zealand and its economy among Australian businesses," he said.

"They are particularly interested in our approach to helping give businesses here the confidence to invest, grow and employ more people, as the basis for building a more competitive and productive economy.

"Therefore, I'm keen to continue my positive dialogue with them."

English will speak to a chief executives' forum in Melbourne today and will speak to a similar audience in Sydney tomorrow.

- APNZ

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