Meridian IPO on track

Almost half the stock of the renewable energy company has been sold at the highest price to New Zealand individual investors.

Brokers have sold 45% of Meridian Energy’s initial public offering to individual New Zealand investors at the highest possible price.

Frank Aldridge, managing director of Craigs Investment Partners, told DataRoom 565 million of the company’s shares were sold last week by brokers including Craigs at $NZ1.60 ($1.42) each.

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