FMA gives green light to offer document
The FMA has reviewed the Mighty River Power share offer document and is satisfied it contains the information investors need to decide whether to invest.
Friday, April 12th 2013, 6:00AM
The offer document was registered last Friday.
FMA CEO Sean Hughes said that due to the complex nature of the listing, FMA engaged Mighty River Power and the Crown well before the offer document was registered.
“FMA, Mighty River Power and the Crown worked constructively to ensure that the key information, including particularly the investment statement and principal risks, was presented clearly,” he said.
“The offer document is a significant source of information for anyone thinking of investing in a financial product, and while it’s not FMA’s role to endorse any offer, we are keen to work with issuers where we can.”
The FMA has released a set of FAQs, which tell would-be investors that the offer investment statement and prospectus is their most important source of information about the offer.
It tells them they do not need to obtain financial advice before investing. “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.”
| « [Weekly Wrap] MRP process leaves a lot to be desired | IFA working on pro-bono offering » |
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