New Zealand raises $1.4B from power company sale
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The New Zealand government says it has raised over 1 billion U.S. dollars sold a 49% stake in a state-owned power company.
But the government says it may make more is that it does not interfere with the opposition political parties opposed the sale of.
The government on Wednesday announced sales price of NZ $ 2.5 ($ 2.10) in the river power shares, raising a total of NZ $ 1.7 billion U.S. dollars (about 14 billion U.S. dollars). The shares began trading the New Zealand stock market on Friday trading in Australia.
The government will use the money to reduce debt and return to its budget black.
Labor and the Greens last month announced a plan to create a single government procurement wholesale electricity.