Delay Mighty River float

National is making an announcement today on it’s share float plans.

Due to market conditions and the current messy situation I think they should delay the Mighty River share float, but put a definite date on it of early next year – a delay of six months.

I don’t think they should delay things until all water issues and Maori claims are resolved – things have previously been able to be done pending Waitangi claims, so that should be able to happen here.

They could schedule one further energy SOE float, but subject to market conditions and how successfule the Mighty River float was.

A Solid Energy float should put on hold until that SOE is in a much better market position.

I don’t think selling a few more Air New Zealand shares will make much difference one way or another, except for market conditions. The airline sector is very volatile and risky so reducing state exposure is probably a sound idea.