Meridian Energy Plans To Sell 49 Per Cent Of The Company To Australian Institutional Investors

Getty/ Sergio Dionisio

Meridian Energy will start marketing to investors this week, hoping to raise $2 billion to list in the Australian Securities Exchange in November.

The largest company to try and float on the ASX this year, New Zealand’s biggest power company is targeting Australian institutional investors in hopes to sell 49% of Meridian when it becomes listed reports the AFR.

Australian fund managers will meet with Meridian’s representatives in coming weeks to discuss its high dividend-paying investment, with 80% of its operating cash to be paid in dividends each year according to the Financial Review Sunday.

Meridian has been valued at $NZ4.65 billion by the Deutsche Bank last week.

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