New Zealand’s Biggest IPO Tests Key’s NZ$5 Billion Asset Sales

New Zealand’s Biggest IPO Tests Key’s NZ$5 Billion Asset Sales

Brendon O'Hagan/Bloomberg

A Mighty River Power Ltd. hydro dam operates on Waikato river in Karapiro, New Zealand. Mighty River operates nine hydro plants, five geothermal stations and the natural gas-fired Southdown plant near Auckland. It sells power to about 20 percent of the nation’s homes, mainly through its retail unit Mercury Energy.