Meridian IPO raises NZ$1.88bn

The New Zealand government sold shares in the Meridian Energy IPO at the bottom of the indicative pricing range.

Meridian Energy Ltd’s initial public offering will raise NZ$1.88 billion, the biggest IPO in Australia and New Zealand this year, after strong individual investor demand for the stock at the lower end of the NZ$1.50 to NZ$1.80 a share price range.

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