Regulator approves Mighty River prospectus
The Financial Markets Authority (FMA) has given the nod to the Mighty River Power prospectus, paving the way for the public offer of shares in the power company to open on Monday as scheduled.
The FMA says it is satisfied the Mighty River Power offer document contains all the information investors need to make an informed decision.
The prospectus was registered last Friday, giving the market watchdog five working days to review it before the allocation of shares began.
Due to the complex and significant nature of the float the FMA had engaged with Mighty River Power and the Crown well before the document was registered, FMA chief executive Sean Hughes said.
"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 authority has published a list of frequently asked questions for potential retail investors on the offer, including information on investing in shares, getting financial advice, and what you should do before making any decisions.