|AECT & Vector Confirm IPO - 13 April 2005
The Auckland Energy Consumer Trust (AECT) and Vector Limited are pleased to confirm that the company will be proceeding with an Initial Public Offering later this year.
It is expected that the company will list in late August/early September and will release a prospectus in June.
The IPO will provide AECT beneficiaries with an opportunity to share in the offer and to also further benefit from the future growth and success of Vector.
It is also likely that the IPO will contain an offer to minority NGC shareholders.
AECT chairman Mr Warren Kydd says the Trust is very pleased to be able to finally end the long-running speculation on Vector’s future.
Vector Chairman Michael Stiassny says the company is excited about its future and is looking forward to listing later in the year.