Mighty River Power share price will be NZ$2.50, raising NZ$1.72 bln for the state

Ouch, no wonder Key has been tetchy about the sale, comparing the number of people that bought Contact to this. That said the were some early comments that it was going to be priced for a successful launch on the share market (which I took to be low enough to ensure a lift in early trading) so I'm not surprised it is on the lower end price wise.

This will raise about NZ$1.72 billion for the Government.

This figure could be seen as a disappointment in the light of earlier market expectations that the offer might raise about NZ$1.9 billion.

Is this the amount raised net of fees that makes a contribution to taxpayer's coffers?

It didn't raise a cent. It's merely a wealth-transfer.

and 113,000? There's more selfish folk than that, surely? Where did they go? Anyone know how many mums and dads got in at the top of telecom, how many with it now?

ouch is right.

 "This is an outstanding result and fulfils our commitment to ensuring at least 85-90 per cent New Zealand ownership of the company."

Huh..? 

is that like 100k invalid signatures for fraudulent reasons..? 

The commitment as I recall it was to Privatise and give opportunity to take part, and bugger you if you don't....it will be sold. 

3.3m Kiwis are over 18.  

114,000 MRP investors.  

3.45% of the adult population have bought MRP shares.

14% of the adult population registered an interest.

Or, to put it another way:

96.55% didn't buy the shares.

86% didn't register an interest.

Anyone worked out what they think the LG "Initiative" has cost the taxpayer with MRP ?

What distress is going to be alleviated for main street by 1.7 billion when we pay 40 odd billion a year in interest alone on the entirely interest bearing private loan based money supply system that all roads lead back to the institutions with the international banking licenses which are owned by the family trusts of the worlds oldest intergenerational wealth;

John Key current New Zealand Prime Minister and former Investment Banker and head of Merrill Lynch European derivatives division said 6 May 2013;

http://www.interest.co.nz/bonds/64319/nz-pm-key-defends-government-drive-return-surplus-and-start-reducing-debt-despite-doubts

""It hasn't been like we haven't been prepared to use the balance sheet. But we're a small country. We're an open, trading nation. We have considerable private sector debt and we're relying on foreign savings to finance our future. On that basis, if we are excessive with our spending and therefore build up debt, then eventually some generation of New Zealanders are going to have to pay that back," Key said.

"Foreign Savings" Mr John Key says, he needs to take a look at this;

http://www.neweconomics.org/blog/entry/the-big-questions-on-money-and-banking-we-should-all-be-asking

We have just sold another of our necessity of life public assets under false pretenses!

Here's what Russel Norman has to say:

The Mighty River sale has been shown to be a con on New Zealanders with less

than 3 percent of Kiwis buying in and most of the shares going to corporates,

Green Party Co-leader Dr Russel Norman said today.



“The charade is over: ‘mum and dad’ New Zealanders haven’t bought the

shares; the big finance institutions and foreign corporates have,” said Dr

Norman.



“John Key’s talk of ‘mum and dad’ investors was a con – less than 3

percent of Kiwis have bought shares in Mighty River Power.



“The fact that Kiwi retail investors are having their allotments scaled

back so National can sell shares to foreign corporates shows what a farce

this has been.



“The multi-million dollar ad campaign has failed to con Kiwis into buying

Mighty River, they want lower power prices instead.



“The supposed 440,000 pre-registered investors turned out to be a figment

of John Key’s imagination. The number of retail investors is only half the

number who bought into Contact and less than half of what Treasury forecast.



“Over two and a half times as many Kiwis have signed the petition calling

for a referendum on asset sales as bought Mighty River shares – that tells

you what Kiwis think of John Key’s asset sales.



“John Key has wasted as much as $100m on the sale of Mighty River. That’s

nearly $1,000 per retail investor. It’s been a disaster. He should cancel

the rest of the asset sales and focus on creating jobs for Kiwis, not payouts

for financiers,” said Dr Norman.

To all you nay sayers out there - get over it, it done. And guess what, you won't notice a blind bit of difference.

To all you nay sayers out there - get over it, it done. And guess what, you won't notice a blind bit of difference.

To all you nay sayers out there - get over it, it done. And guess what, you won't notice a blind bit of difference.