Tamsyn Parker

Tamsyn Parker is the NZ Herald's Money Editor

Mighty River sign-ups break record

Nearly 300,000 kiwis have pre-registered their interest in the Mighty River share float. Photo / Sarah Ivey
Nearly 300,000 kiwis have pre-registered their interest in the Mighty River share float. Photo / Sarah Ivey

A record number of people have now pre-registered to buy Mighty River Power shares.

As of midday 290,659 had signed up to take part in the Government's partial sell-down of the power company.

That is nearly 50,000 people more than the number who signed up for Contact Energy's float in 1999 and there is still two weeks to run before the pre-registration process closes off.

Pre-registration opened on Monday last week and closes on March 22.

Those who sign up don't have to commit any money now but are being offered to chance to gain up to 25 per cent more shares if the offer is oversubscribed and has to be scaled back.

An offer document for the float is expected to become available in mid-April ahead of its listing in May.

People can pre-register through the website www.mightyrivershares.govt.nz or by calling 0800903090.

- NZ Herald

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