Shares of partially privatised power company MightyRiverPower dropped below $2 for the first time since listing at $2.50 in May, as Finance Minister Bill English outlined reasons for cutting the government’s expected proceeds from its asset sales programme. MRP hit $1.99 in early trading on the NZX, while instalment receipts for Meridian Energy dropped to 93.5 cents, compared with their …

NZX-listed high value timber products exporter Tenon is to explore ways of enticing US investors to back the stock as the American housing market starts to lift the company’s earnings after a seven year slog through the sub-prime mortgage and global financial crises. Chairman Luke Moriarty told shareholders at the company’s annual meeting in Auckland the company would also start …

– The government is expecting to reap between $700 million and $1.1 billion from the sale next year of 49 percent of Genesis Energy, the only state-owned power company not to be partially privatised so far. Finance Minister Bill English told the finance and expenditure select committee this morning that the government would be formally revising downwards its estimate of …