Contract Details
Percentage of Mighty River Power to be sold under Mixed Ownership Model policy
MRP.MOM.PERCENTContract Info
- Symbol: MRP.MOM.PERCENT
- Last Trade Price: $0.4397
- Last Trade Time:
25 Jan 3:49pm - Today’s Volume: 0
- Average Daily Volume: 3.0
- Today’s Change:
NC (0.00%) - Start Date: 20 Apr 12
- Close Date: 1 Oct 12
- Status: Active
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Long Description
This contract shall pay 1c for every 1% of the Ordinary Shares in Mighty River Power Ltd that are owned privately the day after shares are alloted under the NZ Government's Mixed Ownership Model policy. The payout is capped at $1. Please see definition of "privately" in judging criteria below.
Judging Criteria
The purpose of the contract is to forecast the percentage of Mighty River Power Ltd that the NZ Government will sell under its Mixed Ownership Model policy. Details of this policy can be found at http://www.comu.govt.nz/publications/information-releases/mixed-ownership-model
"Owned privately" includes shares held by state-owned investment organisations that operately independently from the Government such as but not limited to the Accident Compensation Corporation, the New Zealand Superannuation Fund and the Earthquake Commission. Shares that are not defined as "owned privately" are only those 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.
The Government has said it expects the sale process to be completed in Q3 2012. The contract will stay open until allotment.
If the Government announces definitively and finally that NO shares will be sold in Mighty River Power until after the next New Zealand General Election, the contract will close immediately at $0.
iPredict's judgment is final.
All dates and times are NZ Time.
CLARIFICATION IN RESPONSE TO A TRADER (15/7/12): The closure date is not fixed. The contract will stay open until (1) shares are sold in Mighty River Power or (2) it becomes clear that the New Zealand Government will sell NO shares in Mighty River Power until after the next New Zealand General Election. This could be through an announcement, as provided for, or the election occuring without any shares having been sold (after which the New Zealand Government will be a new government of some sort, given MMP).
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.