The head of New Zealand's investment regulator has hit out at the Government's energy company sharemarket floats and says they have failed to lead the way in making it easier for retail investors to access information.
Meridian says a New York bank owns just 3.98 per cent of the company - not the 8.1 per cent it said earlier.
The price of newly-listed Meridian Energy instalment receipts edged higher this morning.
Analysts expect power company's stock to keep trading above its issue price after gaining 8% on first day.
Meridian Energy's shares debuted at $1.08 after tepid demand in the initial public offering saw the stock sold at the bottom end of its indicative range.
Share price expected to rise on first day but analysts are unsure of progress after that.
The chances of the Govt raising $5 billion to $7 billion from its partial assets sales is looking dimmer after details of No 2 sale, Meridian, were announced last night.
A Greenpeace-commissioned report shows dramatic blow-out effects of a deep-sea oil spill, but the industry says it's "science fiction".
Solid Energy has secured its restructuring deal with most of its banks and the Government following a series of meetings today in Christchurch.
Auckland bio-fuels pioneer Lanzatech has been named the second "hottest" bio-technology company in the world and 4th hottest for bio-chemicals.
Britain has struck an agreement to build a new nuclear power plant - the first such deal in the European Union since the disaster at Fukushima prompted a major rethink of the energy source's merits.
It is deliciously funny to see befuddled Green Party politicians advocating policies that subsidise precisely what they want to discourage, writes Jamie Whyte.
The Labour-Green plan for reducing power prices through a centrally managed bulk buying scheme has certainly set the cat among the pigeons, writes Gehan Gunasekara.
A glitch means some Mighty River Power shareholders have yet to receive notification of how many shares they bought during the company's float.
Editorial: The Green Party has called the Government's bail-out of Solid Energy "privatisation by stealth". Would that it were so.
Independent research house Morningstar has come out in favour of the upcoming Meridian Energy float, saying it is likely to appeal to long-term investors seeking yield.
Energy Minister Simon Bridges buried bad news about rising power prices by delaying release of official figures until just before a Parliamentary recess, Labour says.
The Government has loaned stricken state owned coal miner Solid Energy $100 million as part of a restructuring package announced this morning.
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.
A plan to produce power for 250,000 homes from tidal turbines in Kaipara Harbour, north of Auckland, has been put on hold.
Close to half of the Meridian share offer has been claimed by New Zealand retail investors ahead of the offer opening tomorrow.
The Government has driven a harder bargain in setting the fees for selling up to 49 per cent of Meridian Energy.
Transpower has appointed chemical company executive Alison Andrew to replace chief executive Patrick Strange.