So who is going to buy some shares in Mighty River Power?

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Forums › Finance and wealth management › So who is going to buy some shares in Mighty River Power?

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#774884 5-Mar-2013 11:07

jonherries:
grant_k:
Byrned: If you're serious about investing, it isn't about what happens on listing day, but where you see the company going in the long term, how that will effect the long term share price, and most importantly, what the dividend return is.

But in answer, yes, I plan to buy what I can get my hands on. The offer of the incentive and the likely dividends are what's attracting me.

Well said.

I have the same idea, to buy as much as I can get my hands on. Some info. I have seen suggests that applications over $10k are likely to be scaled. So my wife and I will definitely be putting our hands up for at least $10k each. I just picked up some Sky TV shares for $4.85 as they are another stock which offers a good dividend yield.

The interesting thing to me about this was the news that NewsCorp are selling their holding. This should depress the share price (I heard they were selling at a 10% discount to Fridays price) and you could get more for your money? I do agree that Sky TV have some good underlying fundamentals which means they are close to a monopoly, which means good returns as long as they are efficient.

Jon

The shares traded down to $4.84 this morning, but have now shot back up to $4.95 as some large buy orders were placed on the market. I have kept some cash aside to buy more SKT if there is further price weakness, but with this stock having paid 54cps in dividends last year, that is probably not going to happen. 54cps on a $4.95 share price equates to 10.9% yield after tax, and that is not too easy to find without taking on a lot more risk!

Klathman

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#774886 5-Mar-2013 11:13

Well the web site looks like it groaning so unless there's a DDOS occurring there appears to be a bit of demand.

We don't have a lot of money to spare but think that we should be able to set some aside for this. Also looking at possibly putting some into Meridian when that get's listed.

Unless the government suddenly decided to flog the industry over pricing the returns should be good. Even if they do that it will be a temporary drop before climbing again. I don't think that there are many people that aren't using more power so it's a good industry to be involved in.

DjShadow

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#774900 5-Mar-2013 11:29

I'm struggling with the website too, unless it doesn't like Google chrome?

http://www.mightyrivershares.govt.nz/

Klathman

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#774903 5-Mar-2013 11:32

Nope I don't think it's browser based. Managed to get one application done, and from chrome, but it was damn slow. Now even HTTP connections take ages.

mrphil

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#774905 5-Mar-2013 11:43

I'm thinking to buy some as a investment but this is all new to me.

If purchased do I need some type of share broker or do I just buy and sell via the mightyrivershares.govt.nz website?

Plus how do you pay for them? Is it linked to your bank account and they will have the rights to take the funds out themselfs?

gundar

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#774909 5-Mar-2013 11:49

Website doesn't seem to work under IE 9 or 10 - each form just resets when I press next/submit?

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grant_k

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#774916 5-Mar-2013 12:08

mrphil: I'm thinking to buy some as a investment but this is all new to me.

If purchased do I need some type of share broker or do I just buy and sell via the mightyrivershares.govt.nz website?

Plus how do you pay for them? Is it linked to your bank account and they will have the rights to take the funds out themselfs?

You don't need to have a share broker unless you want to. Both options are catered for via the online form.

When I filled in the name of my broker (ASB Securities) it asked me for my client number, which I guess is another way they can verify your credentials, and maybe save some extra paperwork later.

To trade the shares after issue, you will need to use a broker. Several of the banks offer this service, and so do some third parties, but after I very nearly lost some money when Access Brokerage went under, I decided to only use a registered bank for share trading from that time onwards. I have been very pleased with the speed and ease of use offered by the ASB Securities website.

I expect that you will be able to pay for the shares either by cheque, or by internet banking into the organising broker's trust account, or possibly Direct Debit via Computershare. Those are the ways most of the recent share offers have been paid for.

grant_k

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#774918 5-Mar-2013 12:09

gundar: Website doesn't seem to work under IE 9 or 10 - each form just resets when I press next/submit?

I used it with Firefox and had no problems at all. Using IE9 on my wife's laptop did eventually respond, but it was very, very slow.

Dratsab

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#774926 5-Mar-2013 12:22

I registered my interest about 20 minutes ago using Chrome - had no problems at all.

surfisup1000

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#774929 5-Mar-2013 12:30

Davy: Yes but it's not about the government making money - it's about the financiaql community making money (and lots of it) at the expense on NZers from whom these shares are being taken.

"This topic is not about whether this is the right thing to do"

jonherries

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#774933 5-Mar-2013 12:40

I am having trouble submitting the form on my ipad, it is throwing an "Ajax" error at me.

Jon

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jonherries

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#774936 5-Mar-2013 12:44

grant_k:
jonherries:
grant_k:
Byrned: If you're serious about investing, it isn't about what happens on listing day, but where you see the company going in the long term, how that will effect the long term share price, and most importantly, what the dividend return is.

But in answer, yes, I plan to buy what I can get my hands on. The offer of the incentive and the likely dividends are what's attracting me.

Well said.

I have the same idea, to buy as much as I can get my hands on. Some info. I have seen suggests that applications over $10k are likely to be scaled. So my wife and I will definitely be putting our hands up for at least $10k each. I just picked up some Sky TV shares for $4.85 as they are another stock which offers a good dividend yield.

The interesting thing to me about this was the news that NewsCorp are selling their holding. This should depress the share price (I heard they were selling at a 10% discount to Fridays price) and you could get more for your money? I do agree that Sky TV have some good underlying fundamentals which means they are close to a monopoly, which means good returns as long as they are efficient.

Jon

The shares traded down to $4.84 this morning, but have now shot back up to $4.95 as some large buy orders were placed on the market. I have kept some cash aside to buy more SKT if there is further price weakness, but with this stock having paid 54cps in dividends last year, that is probably not going to happen. 54cps on a $4.95 share price equates to 10.9% yield after tax, and that is not too easy to find without taking on a lot more risk!

And now to 4.97, nice work.

Jon