A stock broker says the offer of shares in Meridian Energy is likely to be popular with investors.
The Government on Friday released the prospectus for the partial sale of the company, which values it between $3.8 - $4.6 billion. Shares will be priced between $1.50 - $1.80 each.
The sale of Meridian echoes the earlier partial sale of Mighty River Power, but involves more shares, which can be bought in two stages.
There will also be a price cap for small, but not large, financial institutions.
Grant Williamson of brokers Hamilton Hinden Green said the share float will appeal to a wide range of investors.
He said the float offers investors an attractive dividend yield.