May 10, 2013
Mana counts cost of Mighty River Power listing
Mighty River Power listed on the New Zealand and Australian share markets today at $2.73, allowing a quick profit for many of the 113,000 so called mum and dad investors who bought them from the government at $2.50 a piece.
The 26.9 percent of shares on offer allocated for overseas investors was oversubscribed several times, meaning there is pent up demand from institutions.
Mana leader Hone Harawira says share buyers are banking on making profits off the backs of ordinary New Zealanders
"Absolutely every single time power is privatised, power will go up. It's the poor people who are struggling right now and their families who are going to suffer. It's just not good thinking to destroy the lives of a great swathe of your citizens just to provide profit for a small minority, but that's National’s way of doing business," he says.
Mr Harawira says that’s why a Mana protest flotilla is tomorrow sailing from Hamilton to Ngaruawahia down the Waikato River, which is the source of Mighty River Power’s hydro generation profits.
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