Despite a somewhat confused launch, 100,000 Kiwis have managed to pre-register to buy stakes in Mighty River Power this week.
From 10am yesterday, a region locked website only accessible inside of New Zealand began taking pre-registrations for the shares offer, alongside a toll-free number for the less digitally-inclined (0800 90 30 90). However, the details for its URL remained a mystery until that time, which is strange given all the time everyone had to prepare for lift-off.
A million-ish dollar ad campaign also launched yesterday across print, online, and television to coax Ma and Pa New Zealanders into investing a minimum of $1,000 into the state-owned utility company.
Below are TVCs for the campaign showing beautiful steamy clips of hydroelectric stations, uploaded by Chris Keall over at The NBR.
Finance Minister Bill English's office says the three-week pre-registration ad campaign (run by Clemenger BBDO) is expected to cost between $1.1 million and $1.4 million, updated from the $1.1 million figure given to media yesterday.
The initial campaign targeting small investors lasts until March 22, after which the focus will shift to more sophisticated investors.
Clemenger BBDO and Senate Communications won the expression of interest to manage the ad and comms side of the sale last year, beating out a list of 21 other submissions.
A version of this post originally appeared on StopPress
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