Advisers lukewarm on SOE floats

Minister for State Owned Enterprises Tony Ryall has introduced new legislation to allow the partial sell-down and stock exchange listing of SOEs Mighty River Power, Genesis Energy, Meridian Energy and Solid Energy, as well as the sale of shares in Air New Zealand, in which the Government has a 73% stake. 

Yesterday he confirmed the Government is aiming to undertake the first initial public offering - for Mighty River Power - around the third quarter of this year.

"The rationale for the government share offers for Mighty River Power, Genesis, Meridian, Solid Energy and Air New Zealand is very clear," Ryall said.

"We must not get into the kind of debt trap the UK and Europe are in."