The Herald understands the investment prospectus for Genesis is likely to be registered with the Financial Markets Authority tomorrow.
The FMA then has time to view it and for changes to be made before the final document is made publicly available in hard copy.
Genesis Energy management and the Government's investment bankers have spent the last two weeks visiting potential international investors. But their focus is expected to switch to local broking firms at the end of this week ahead of the book build.
The auction-style book build will see brokers and local institutional investors including KiwiSaver fund managers placing bids for the shares at varying prices based on what they believe they are worth.
The Government will use the book build to set the final price which is expected to be announced at the end of the two-day process on March 28.
The general offer would then open to the public on April 1 giving retail investors around two and a bit weeks to buy shares in Genesis.
The Government has already said the offer will include a bonus share scheme. That scheme is expected to be more attractive than the one offered for Mighty River Power.
Investors in Mighty River were offered one share for every 25 they hold up to a maximum of 200 bonus shares if they keep them for two years from the float.
Genesis is also expected to come with an attractive dividend yield.
Independent research house Morningstar has valued state-owned Genesis Energy at around $1.69 billion to $1.89 billion in total, or about $3.25 to $3.50 a share.
At that price, the sale would be worth about $845 million to $945 million to the Government, assuming it sells the maximum 49 per cent.
Genesis has the biggest customer base of the generator/retailers.
On top of its 30 per cent ownership of the lucrative but diminishing Kupe field, Genesis has Tekapo A and B hydro stations in the South Island and the Huntly coal and gas station.
