![Top CEO: 'I earn a ridiculous amount'](/pf/resources/images/placeholders/placeholder_l.png?d=793)
Top CEO: 'I earn a ridiculous amount'
Warehouse boss Mark Powell wasn't afraid to speak candidly about his pay packet with business journalists in Auckland last week.
Warehouse boss Mark Powell wasn't afraid to speak candidly about his pay packet with business journalists in Auckland last week.
Strong demand for shares in Genesis Energy saw the public pool heavily scaled back yesterday, raising the ire of investors who missed out on getting their desired levels of stock but also reflecting the offer's popularity.
Intense investor interest in the upcoming float of Genesis Energy is forcing a heavy scaling back of broker and institutional share allocations well before the April 14 deadline.
Five research reports into the value of Genesis Energy shares have been released by the NZX this morning. Read them all here.
Pricing for the Genesis Energy share offer means the Govt's controversial partial asset sales programme will just make it over the line for the revised $4.6b to $5b target set after Solid Energy was taken off the block.
The Treasury would have liked more "Mum and Dad" small investors to have bought shares in electricity generators Mighty River Power and Meridian Energy.
The share price for Genesis Energy will likely be set in the mid to upper end of its range in light of the Government's decision to sell up to the full 49 per cent, say analysts.
Genesis Energy chief executive Albert Brantley, speaking at the launch of the Genesis Energy offer, complained about the company being labelled the "ugly duckling".
The Treasury has finally developed a fair and widely accepted process for the Genesis Energy IPO, writes Brian Gaynor.
Genesis Energy could end up being the most costly sale in the Government's partial privatisation programme as a proportion of its proceeds.
Shares in state-owned power generator and retailer Genesis Energy will be priced in a $1.35 to $1.65 range and include a one-for-15 loyalty bonus share offer as a sweetener.
The Government says shares in Genesis Energy will be priced in a $1.35 to $1.65 range and would include a loyalty bonus share offer.
Full details of the Genesis Energy float will be released today including the price range for the shares, a bonus share scheme and the timetable for its sharemarket listing.
Over the past couple of weeks, households have been receiving nasty surprises in the mail.
Households will be socked with power bill increases of as much as 24% next month and power firms and network operators are blaming each other over who is responsible.
The Govt's move to set the share price for the Genesis Energy float before retail investors have to pay up has won approval from an investment expert.
The sharemarket float of Genesis Energy - the details of which are due out today - is likely to proceed along standard lines.
The National Government's flagship partial asset sales policy will end in the next month with the sale of Genesis Energy, said John Key.
Editorial: The real reason for the asset sales, all along, has been to put all four of the big electricity generating companies on the same competitive footing.
Bill English has thrown the Opposition a curve-ball as they ready themselves for their unofficial three-week campaign to maximise the "no" vote in the referendum on partial asset sales.
The Government, fresh from the sale of shares in Mighty River Power and Meridian Energy, faces a harder sell when it comes to divesting a 49 per cent stake in the third and final power generator.
New technology allows households to track almost every detail of their electricity use.
Editorial: Naturally enough, the Government was keen to put the entire blame for what happened on "politicking" by Labour and the Greens.
If Meridian Energy had already floated, it's a fair bet that its share price would have dropped after the Opposition unveiled its electricity policy a week ago.
The Government has set a price range of $2.35 to $2.80 per share for the partial privatisation of Mighty River Power.