![Solid Energy gets $100m Govt loan](/pf/resources/images/placeholders/placeholder_l.png?d=795)
Solid Energy gets $100m Govt loan
The Government has loaned stricken state owned coal miner Solid Energy $100 million as part of a restructuring package announced this morning.
The Government has loaned stricken state owned coal miner Solid Energy $100 million as part of a restructuring package announced this morning.
John Key says the result of next month's referendum on asset sales will be interesting - but won't halt his partial sale of power companies and Air NZ.
Prime Minister John Key has confirmed the Citizens Initiated Referendum over asset sales will take place in late November and early December this year.
The Government says there has been strong early demand for its Meridian share offer, which opens today.
Close to half of the Meridian share offer has been claimed by New Zealand retail investors ahead of the offer opening tomorrow.
Meridian Energy's IPO is all about political risk.
The Government has driven a harder bargain in setting the fees for selling up to 49 per cent of Meridian Energy.
The Shareholders Association has welcomed a move by the stock exchange to help fund independent research on the Meridian Energy sharemarket float.
The Government's decision to move earlier than signalled on the Meridian Energy float shows there is positive interest in the float but pricing will remain key
The Government is still working through the best way to sell down its stake in Air New Zealand but says it will be a faster sales process than the power companies.
The Government has today announced a timeline for the Meridian float, in which it hopes to raise around $2.3 billion.
If history is any guide, the upcoming referendum on the sale of state owned assets will achieve a huge vote in favour of no more sale.
Prime Minister John Key says the asset sales referendum will be an "utter waste of money" and the sales process could be completed before it is held.
Investors in soon-to-be-floated Meridian Energy could receive a net dividend yield of up to 6.8 per cent, based on analyst valuations.
Five months after the first share float of Mighty River Power a referendum on asset sales is to go ahead - news accidentally tweeted by the Greens co-leader.
For a man who claims to have become an accountant out of sheer laziness, Paul Chambers has a lot on his plate.
No sooner had Mark Binns taken over as chief executive of Meridian Energy in January last year, than he was confronted with the lowest inflows into its hydro lakes in more than 80 years.
Mighty River shares are up nearly 2 per cent this morning after a good profit announcement.
Shares in Mighty River Power traded at $2.18 this morning, their lowest point since listing on May 10.
Prime Minister John Key and Finance Minister Bill English have revealed a new strategy for the Meridian Energy share offering.