NEW ZEALANDERS OFFERED GUARANTEED STAKE IN AUCKLAND INTERNATIONAL AIRPORTDeputy Prime Minister
Every New Zealander who applies for a stake in Auckland International Airport will be allocated some shares, Deputy Prime Minister and New Zealand First Leader Winston Peters said today at the launch of the Airport prospectus.
"This is the first ever float that offers our citizens a guaranteed stake in a Government asset.
"Essentially, the exercise is a New Zealand float of a New Zealand asset for the New Zealand people.
"I'm pleased that high-profile New Zealanders like former All Black captain Sean Fitzpatrick are involved in promoting the float, which shows it is a float for the people.
"With the recent criticism of MMP in the past week, it is good to see such a positive event that would probably not have occurred under the old electoral system," Mr Peters said.
New Zealanders who apply for shares under the public offer will not have to pay brokerage fees. The minimum parcel of shares people can apply for is $1000, and $500 parcels thereafter.
The public offer starts at 9am, 1 July and closes to the public at 5pm on 22 July, and to professional and institutional investors at 5pm on 24 July.
The final share price will be announced on 25 July, with trading to start on 28 July.