Here are the numbers that sum up the MRP sale fail:
113,000 Kiwis actually bought shares. But the government spent between $100 Million and $300 Million on the process ($100 Million to a single Australian bank alone). Let’s be generous to the Nats and call it $1,000 spent per Kiwi investor. What a criminal waste.
113,000 Kiwis actually bought shares. But Treasury predicted and prepared for up to 250,000. In other words – fewer than half the investors they expected showed up.
113,000 Kiwis actually bought shares. But that’s less than 3% of the population. So much for “Mum and Dad” investors.
113,000 Kiwis actually bought shares. But the sell off of Contact Energy in 1999 attracted more than 225,000. Kiwis are obviously wising up.
113,000 Kiwis actually bought shares. But that’s less than a quarter of the 440,000 who registered an interest (by John Key’s “logic” 75% of pre-registrations were fraudulent and the whole process is a rort).
113,000 Kiwis actually bought shares. But there are 292,000 valid signatures (with more to come) on the petition calling for a referendum – almost three times as many opposed to the sales as actually bought in.
The 113,000 bought an average of $8,200 in shares. The typical family has less than $2,000 in the bank. Does that sound like ‘mum and dad’ investors to you?
The MRP sale has probably soaked up much of the interest and spare cash from those likely to buy, making it likely that the uptake from future sales will get progressively worse. Hey Nats – take the hint and quit now. The assets are ours already – they are not yours to sell…