Posts Tagged ‘IPO’

What’s the guvmint got against the United States?!

National’s website outlining it’s partial privation of Genesis, Meridian, Mighty River Power, Solid Energy, and Air New Zealand, has gone live,


New zealand government share offers



This blogger notes that the government is demanding that anyone entering the website provides confirmation that “you are not in the United States nor are you acting for the account or benefit of any person in the United States“.

Say whut???

What does National have against the United States and it’s citizens?

Why specifically exclude the United States whilst not mentioning  individuals or organisations from other countries such as the Eurozone, UK, Asia, Australia, et al???

And how will our American cuzzies view being specifically excluded?!


Interestingly, the part-privatisation of these SOEs will also mean that ownership of the following will be transferred into private ownership,

Genesis Energy

  • Thermal power generators at Huntly.
  • Hydro stations at Tongariro, Lake Waikaremoana and Lake Tekapo.
  • Wind farm in the Wairarapa.
  • Retails electricity and gas.
  • Owns 31% of the Kupe oil and gas field.


  • The Meridian Group includes the parent company Meridian Energy Limited, subsidiary businesses in Australia and the US and other innovative New Zealand investments that complement its core activities as an electricity generator and retailer.
  • Meridian Energy Limited is New Zealand’s largest electricity generator supplying approximately 30 per cent of New Zealand’s total electricity demand. It generates electricity from renewable energy sources, hydro and wind.
  • Meridian Energy Limited owns and operates six hydro stations on the Waitaki river in the South Island and Manapouri hydro station, located in a World Heritage Park in Southland.
  • The Meridian Group owns and operates four wind farms in New Zealand, one in Australia and built and operates the world’s southernmost wind farm in Antarctica.
  • The Meridian Group retails electricity nationwide through Meridian Energy Limited and its subsidiary Powershop. Meridian Energy Limited also supplies electricity to the largest consumer in New Zealand, the New Zealand Aluminium Smelter at Tiwai Point in Bluff.
  • The Meridian Group has offshore investments in wind farms in Australia and a solar facility in the USA. It is constructing the southern hemisphere’s largest wind farm in Australia with joint venture partner AGL Energy.

Mighty River Power

  • Integrated generator and retailer, with sales accounting for about 18% of New Zealand’s total electricity consumption.
  • More than 90% renewable generation, with substantial geothermal share, supported by multi-unit gas-fired plant in Auckland.
  • All generation assets located in the upper North Island, close to major industry and residential demand.
  • National retail brand Mercury Energy; niche brands GLO-BUG (pre-pay), Bosco Connect (inner-city apartments) and Tiny Mighty Power (provincial towns).
  • 82MW Ngatamariki geothermal station due for completion in 2013.
  • Leveraging geothermal expertise globally, with investments through GeoGlobal Energy in US, Chile and Germany.

Solid Energy

  • New Zealand’s largest natural resources company and energy producer.
  • Exports coal and wood pellets to countries around the world.
  • Supplies more than 75% of its coal to leading steel makers and most of the balance to New Zealand industry.
  • Develops and commercialises technologies: coal seam gas, underground coal gasification and lignite conversion.
  • Produces renewable energy – biomass and biofuels – for New Zealand markets, sells solar water heating.

Air New Zealand

  • More than 100 aircraft flying to 28 international and 27 domestic destinations.

See:  The companies

That’s a massive amount of wealth that National intrends on transferring into the hands of private investors. Not the mythical “mum and dad” investors – that demographic has all but lost it’s money after losing billions in investments after the collapse of 40+ finance companies.

The private investors will be wealthy individuals, most likely from the top 150 Rich Listers, and investment companies.

New Zealanders have every reason to oppose state asset sales. We lose. The rich gain. It’s as simple as that.





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