Mighty River pre-registration deadline looms
More people have registered fro shares in Mighty River Power than the number who opposed the sale of state assets, and interest in the sale is set to for a new record.
More than 420,000 potential buyers of Mighty River Power shares have pre-registered ahead of the deadline of 5pm today.
The interest in the sale of up to 49 per cent of the state-owned power company has surprised investment analysts and indicates the previous record - 225,000 shareholders in the float of Contact Energy - is set to be exceeded.
But Finance Minister Bill English is cautious about reading too much into the figures yet.
"The real test will be if people write out a cheque," he said.
Investors do not have to pre-register to buy shares, but English and State Owned Enterprises Minister Tony Ryall have signalled those who do will be allocated more shares.
"Pre-registering is only for New Zealanders and those who pre-register may get a share allocation benefit of up to 25 per cent more shares than those who do not pre-register (in the event of oversubscription)," Ryall said.
The price of the shares is yet to be set.
The Government has pointed out that the number who have pre-registered is greater than the 393,000 who signed a petition backing an anti-asset-sale referendum.
But a new survey has shown a fifth of those who oppose the sale still intend buying shares in the company.
However, the Herald-DigiPoll survey also found opposition waning with just over half the 750 surveyed now against it, down from almost two thirds a year ago.
The survey has a margin of error of 3.6 per cent.