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- Release Date: 16/05/13 13:45
- Summary: GENERAL: MRP: Successful completion of IPO
- Price Sensitive: No
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MRP
16/05/2013 11:45
GENERAL
REL: 1145 HRS Mighty River Power Limited (NS)
GENERAL: MRP: Successful completion of IPO
Successful completion of IPO signals next phase in evolution of Mighty River
Power
"We are delighted to see the breadth and depth of our investor base,
particularly first-time investors and we are heartened by the confidence
those investors have placed in the Company's future," said Chair Joan
Withers.
"Through this Offer we've seen a new level of interest and understanding of
Mighty River Power's business - and we know there will be substantial
interest in our performance and strategy from our new shareholders and
potential investors as we go forward into this next stage of the Company's
evolution.
Mighty River Power Limited (NZX: MRP / ASX: MYT) is now trading on a normal
basis following the allocation and transfer of 675,031,404 Ordinary Shares
from the Crown to more than 113,000 shareholders, who purchased a direct
stake in the Company through the Initial Public Offering. The Crown has
retained a 51.8% stake, inclusive of loyalty shares.
"This week we've written to our shareholders for the first time enclosing
their holding statements - and acknowledging their support through the IPO
and helping further connect them with Mighty River Power."
Mrs Withers said the 'welcome' letter to all shareholders was designed to
reach out to investors and convey our commitment to ongoing communication and
transparency. "The new depth and diversity in Mighty River Power's share
register, with a substantial and widespread local retail shareholding, strong
support from New Zealand and offshore institutional investors, together with
the Crown as a cornerstone shareholder will require us to keep investors
appropriately informed and engaged. One important component of our
communication approach is the Company's website and a new 'Investor Centre'
which will be an up-to-date resource for our shareholders, investors and the
public to access.
"We're looking forward to the next steps of engaging with our shareholders,
updating them on key milestones for our business, and sharing our business
results for the 2013 Financial Year in August this year.
"This has been an exciting time for Mighty River Power, and I'm personally
passionate about ensuring that we are responsive to investors and providing
appropriate transparency so that they can make informed assessments about the
Company's value and prospects," she said.
ENDS
End CA:00236303 For:MRP Type:GENERAL Time:2013-05-16 11:45:28
