The financial markets watchdog has cleared the way for the Mighty River Power share offer to begin on Monday.
The Financial Markets Authority has finished reviewing the prospectus for the state owned energy company, the first of three that will be put up for partial privatisation by the Government.
Opposition parties have said the prospectus fails to properly quantify the risks of the Tiwai Point aluminium smelter closing and the impact of that on Mighty River Power.
However the Financial Markets Authority has confirmed on Friday it is satisfied the prospectus provides all the information potential investors need to be able to decide whether to buy.
State-Owned Enterprises Minister Tony Ryall says it is pleasing to reach such a milestone which means the share offer can go ahead as planned on Monday.
Potential investors will have three weeks to apply for shares before Mighty River Power is listed on the stock exchange on 10 May.