Advisers don't expect sell-off bonanza
After the Supreme Court ruling in its favour over Maori water rights, the government is planning to go ahead with the IPO of Mighty River Power this year and has indicated it could list the other two big generating companies, Meridian and Genesis, this year as well.
New Zealand Financial Planning Authorised Financial Adviser Jordi Garcia said advisers were likely to get plenty of inquiries about the floats but most of them would probably come from existing clients.
“Certainly when there was talk of them being sold 12 to 18 months ago there was a flurry of inquiries to some of our advisers as to ‘how’s this going to be dealt with; should we make allocations?’” he said.
Garcia said if the floats did generate new inquiries these would present a great opportunity for financial planners to offer their other services.
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