A view over Napier Port

Looking Back On The Napier Port IPO

Its only been matter of weeks since our IPO sale of 45% of the shares in Napier Port. It was momentous occasion for HB that couldn’t have happened without a huge amount of hard work from a lot of people.

This process has taken two years and I undertand that whilst not everyone supported the sale of these shares, I ask you to consider the following.

This has been an amazing achievement for this council who acted with the highest integrity and provided the vision to enable this all to happen.

They confronted the issues and did what they thought was right depite the political risks

They have shown what is possible with a clear vision, and leadership, plenty of hard work and a commitment to taking our community on a journey with us. Everyone of them contributed to the final result.

The council was supported by a group of financial and legal advisors and our own staff both within council and at the Port who worked on the project.

They all did a really great job in translating our councils vision into a market reality.

It wasn’t an easy journey for many in our community especially the Port staff and their union who were initially concerned about job security but I am extremly pleased that 97% of them eventually bought shares in this business which depends so much on them. This has got to be some kind of new world record.

Without their competency and work ethic, this would never be the profitable Port business that it is today.

We set the initial share price at the highest level recommended and the market still had a bit more room to move adding even more value to the shares.

This has been a little bonus for those of you who bought shares and you are to be applauded for your confidence in this business and our region

Its been a long journey but we got there and we can all celebrate an amazing result for Hawkes Bay

Rex Graham
HB Regional Council


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Email: rex@freshnz.co.nz
Phone: +64 21 424 972

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