Street Talk

Mighty River Power revs up trans-Tasman sales pitch

Sarah Thompson and Anthony Macdonald

Updated Mar 20, 2013 – 12.33am, first published at 12.09am

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Marketing for Kiwi electricity company Mighty River Power has stepped up a gear, with the book-runners sending analysts to meet investors ahead of the expected $NZ2 billion ($1.6 billion) initial public offering.

Goldman Sachs hosted a lunch in Sydney on Tuesday, where analyst Matthew Henry ran through his valuation. He compares Mighty River to fellow listed energy companies Contact Energy and TrustPower , which trade about 9 and 11 times earnings respectively (on an enterprise value-to-EBITDA basis).