Treasury appoints service providers for Mixed Ownership Model share floats

The Treasury has appointed suppliers to help New Zealanders participate in the partial share float of Mighty River Power as part of the Mixed Ownership Model programme.

Service providers who will help market the offers and provide the services necessary for New Zealanders to participate in the planned initial public offering (IPO) are:
• Computershare Investor Services – online services and infrastructure (including websites), transaction services and infrastructure including processing of applications for shares, mail house services, call centre services.
• Chris Major – Marketing and Communications Director.
• Clemenger Group – marketing, advertising and design services.
• Senate Communications – communications and public relations services.

The Treasury is implementing the Government’s policy of extending the Mixed Ownership Model to Mighty River Power, Meridian Energy, Genesis Energy, and Solid Energy and reducing the Crown’s shareholding in Air New Zealand, with the Crown retaining a majority stake in all the companies. The Government has said the first IPO will be for Mighty River Power shares in the third quarter of this year.

The Mixed Ownership Model programme is expected to raise between $5 billion and $7 billion over three or so years. Costs for all suppliers and contractors across the mixed ownership programme are expected to be less than 2 per cent of total programme proceeds, which is low by market standards.

The Treasury sought proposals through the Government Electronic Tenders Service and signed contracts with the suppliers after a rigorous assessment and negotiation process that included sub-contracted suppliers, where necessary.

The Treasury is currently seeking a Market Research Consultant, with a request for proposals available on www.gets.govt.nz and due to close at 5pm today.

ENDS

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