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New Zealand’s Government announces asset sale of Air New Zealand

18-Nov-2013 11:21 AM

New Zealand’s Government announced (17-Nov-2013) it has started the process to sell 20% of Air New Zealand shares, as confirmed by finance minister Bill English and state owned enterprise minister Tony Ryal. Mr English said, “A sale of shares to New Zealand brokers and to New Zealand and offshore institutions will commence tomorrow, 18-Nov-2013, via a bookbuild process.” He continued, “New Zealanders will be at the front of the queue for shares and we are confident we will achieve the Government’s objective of at least 85 per cent New Zealand ownership.Air New Zealand shares will be sold via a competitive bookbuild process. New Zealand’s Government currently owned 73% of the carrier and plans to reduce its stake to 53% following the sale of 20% of its shares. Air New Zealand stated (18-Nov-2013) it has been placed into a trading halt session state until the share sale is completed and an announcement regarding the outcome can be made.  [more - original PR Air New Zealand 1[more - original PR Air New Zealand 2[more - original PR ASX [more - original PR NZ Govt[more - original PR Air New Zealand]