As Predicted New Zealand Is Being Sold Off To John Key’s Bankster Mates

For pennies on the (worthless fiat) dollar! Just like Royal Mail

Source

A New York bank has emerged as one of the largest shareholders in Meridian Energy.

A disclosure to the NZX today showed The Bank of New York Mellon Corporation owns 102,014,447 Meridian shares, an investment which once fully paid, would cost $153 million.

The shares cost an initial $1, with the remaining 50c a share due in 18 months.

The investment by Bank of New York Mellon represents about 8 per cent of the shares offered as part of the partial privatisation of Meridian.

Including the majority stake retained by the Crown, the US bank owns about 4 per cent of Meridian, New Zealand’s largest electricity generator.

While the investment is large by New Zealand standards, it is just a fraction of 1 per cent of Bank of New York Mellon’s US$1.5 trillion (NZ$1.8t) in assets under management, as at September 30.

No other institutions have revealed whether they own more than 5 per cent of the shares which were offered for sale.

It is unclear whether all of the shares were purchased in the initial public offering – the bank’s disclosure said a purchase of 72,014,447 shares on Tuesday took it over the 5 per cent threshold.

Since listing at $1, Meridian’s instalment receipts have risen as high as $1.10, but are down 1 cent at $1.09 this morning.

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One thought on “As Predicted New Zealand Is Being Sold Off To John Key’s Bankster Mates

  1. I wonder what the next election will be about?

    Who can tie their shoe laces the quickest maybe?

    Anyhow, it would not be an unlikely guess to entertain the possibility that the bee hive could have the highest percentage of these share buyers of any ‘profession’ in New Zealand if they are not all up to their necks with property accumulations from their salarys – although maybe covertly. The Greens for example were going to be for public-private before it became apparent that Labour wasn’t going to be so ‘pragmatic’ on the issue under Goff.

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