An angry Vital Healthcare Property Trust investor has criticised performance and investment in Australia at New Zealand's expense.

Meridian Energy's instalment receipts have continued to hold firm, helped by buying interest from Bank of New York Mellon Corp, through its London-based subsidiary, Newton Investment.

The head of New Zealand's investment regulator has hit out at the Government's energy company sharemarket floats and says they have failed to lead the way in making it easier for retail investors to access information.

The price of newly-listed Meridian Energy instalment receipts edged higher this morning.

Analysts expect power company's stock to keep trading above its issue price after gaining 8% on first day.

Meridian Energy's shares debuted at $1.08 after tepid demand in the initial public offering saw the stock sold at the bottom end of its indicative range.

Share price expected to rise on first day but analysts are unsure of progress after that.

Air New Zealand is shaping up as the pick of the Government-owned companies on sale after Meridian Energy's low offer price and Mighty River Power's languishing shares.

The deal will raise $1.88 billion instead of the maximum $2.25 billion for the 49 per cent share, and values Meridian at $3.84 billion.

The chances of the Govt raising $5 billion to $7 billion from its partial assets sales is looking dimmer after details of No 2 sale, Meridian, were announced last night.

Meridian shares will be issued at a listing price of $1.50, the bottom of the indicative range, and with a much smaller investor pool than the government had hoped for.

Solid Energy has secured its restructuring deal with most of its banks and the Government following a series of meetings today in Christchurch.

Sources said the Meridian general offer could attract up to $280 million which, when taken with the broker allocation of $565m, could see up to $850m out of the $1.25 billion offer in retail ownership.

Closing day for the Meridian offer, the Vector media blackout, Diligent and Abano.

It is deliciously funny to see befuddled Green Party politicians advocating policies that subsidise precisely what they want to discourage, writes Jamie Whyte.

Shares in Mighty River Power gained 5c today after the company announced that it would buy back up to $50 million of its shares - 6 months after it was listed.

People contemplating investment in Meridian Energy shares need to think long and hard about political risk, writes Brian Fallow.