Contract Details
NZ Government to privatise at least 100,000,000 shares in Mighty River Power Limited before 1 April 2013
MRP.MOM.1APR13Contract Info
- Symbol: MRP.MOM.1APR13
- Last Trade Price: $0.0095
- Last Trade Time:
2 Feb 11:08pm - Today’s Volume: 0
- Average Daily Volume: 11.4
- Today’s Change:
NC (0.00%) - Start Date: 17 Jul 12
- Close Date: 1 Apr 13
- Status: Active
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Long Description
This contract pays $1 if, before 1 April 2013, the New Zealand Government sells at least 100,000,000 shares in Mighty River Power Ltd to the private sector; otherwise it pays $0.
Judging Criteria
The purpose of this contract is to forecast the probability that the New Zealand Government will sell at least 100,000,000 shares in Mighty River Power Ltd to the private sector by the given date under its proposed Mixed Ownership Model.
Details on Mighty River Power Ltd can be found at http://www.business.govt.nz/companies/app/ui/pages/companies/936901
Legislation allowing the Mixed Ownership Model can be found at http://www.legislation.govt.nz/act/public/2012/0045/latest/DLM4538208.html
For this contract to pay $1, the sale of at least 100,000,000 shares in Mighty River Power Ltd to the private sector must have been completed and the shares allotted before the given date.
For the purposes of this contract, "private sector" includes shares held by state-owned investment organisations that operate independently from the Government such as but not limited to the Accident Compensation Corporation, the New Zealand Superannuation Fund and the Earthquake Commission. "Private sector" excludes shares owned by Her Majesty The Queen of New Zealand, Government Ministers in their official capacity or another person or entity designed to give effect to the Government's policy that 51% of the shares will continue to be owned by the Crown.
If the NZ Government announces definitively and finally that NO shares will be sold in Mighty River Power before the given date, the contract will close immediately at $0.
In the event of doubt, iPredict will make inquiries of relevant authorities.
iPredict's judgment is final.
All dates and times are NZT.
This contract will be closed no later than 3 working days after the Close Date. The Close Date may be extended if the event outcome cannot be determined by that date.