max
°
min
°
Location:
COLOR-Waatea logo 2016-final

On Air Now
Radio Waatea

03:00pm - 06:00pm
Ed Sheeran

Hawke's Bay iwi snap up port shares
©On File

Share to Email
Share to RSS
Share to Print

Four of the eligible iwi groups have received a priority allocation of shares in Napier Port, along with 90 percent of eligible port employees and a large number of Hawke's Bay locals.

The final price of $2.60 a share was at the top of the indicative price range for the initial public offer.

Napier Port chair Alasdair MacLeod says when it lists on August 20 the company will be 90 percent New Zealand owned.

Hawke's Bay Regional Council will receive $234 million for the 45 percent of the port operator it is selling.

It will keep about $108 million and use $110 million to clear existing debt so the company can fund its future capital spending plans, which include building a new multi-purpose wharf.

Just under $16 million will be used to meet the costs of the IPO and to fund the limited recourse loans used by port employees to buy shares.
 

Copyright © 2019, UMA Broadcasting Ltd: www.waateanews.com

Korihi Dates

flu cmdhb apr 2020

TRM Classes
NLC - One More Try - (feat Stanley T) [Official Video]
Dr Rawiri Taonui | Covid | Modelling of border breaches demonstrates need to reduce arrivals 21 September 2020
Dr Rawiri Taonui: On 8 September modelling by this researcher showed that if the government did not reduce the number of arrivals into New Zealand there would be another breach at the border or in Managed Isolation and Quarantine (MIQ) leading to a further Covid-19 outbreak in October or November. Since then, there have been two such breaches on 13 and 19 September.
Dr Rawiri Taonui | World Passes 30 million Covid cases 19 September 2020
Dr Rawiri Taonui: Two days ago, the official number of Covid-19 cases worldwide passed 30 million. The last 10 million came in 38 days over four times faster than the 154 days for the first 10 million.
Whoever wins the election, when are Māori going to be given a real agency?
Martyn 'Bomber' Bradbury: Whoever wins the election, there is a renaissance within Māoridom that refuses point blank to co-operate any longer with a system that is structurally biased against them.
0
TMP2
           

Submit

Glossary

 

Subscribe

Enter your email address to receive regular updates from Waatea News.
  • fb

On Air Now
Radio Waatea

03:00pm - 06:00pm