Fund managers say the trading debut of Meridian Energy shares went as well as could have been expected.
The Government is selling 49% of Meridian Energy's shares in two instalments, the first priced at $1, and another 50 cents due in 18 months time.
The first instalment began trading at $1.08 and ended on Tuesday at the same price.
An energy analyst at Devon Funds Management, Phil Anderson, says Meridian's shares have been more appropriately priced than those of Mighty River Power, which the Government floated in May.
Photo: RNZ
Mighty River Power shares were priced at $2.50 and held that level for their first six trading days, but they soon fell below the issue price and have remained lower since late May, closing on Tuesday at $2.20.
Meanwhile, an analyst at UBS Investment Research, Wade Gardiner, values the first instalment of Meridian shares at $1.45 and expected the price to be $1.27 in a year's time.
