As one of only a handful of large companies listing on the New Zealand Stock Exchange (NZX) in recent years, Napier Port’s 2019 public listing attracted substantial national attention.
As part of a small internal team that included the Napier Port Chief Executive and Chief Financial Officer, Erin Harford-Wright worked with more than 50 investment bankers, commercial advisors and lawyers to plan and execute the engagement aspects of the share float.
As Senior Communications Advisor, Erin led the regional engagement campaign and national marketing workstreams, working with an investor relations specialist, an engagement consultant and the Napier Port communications team during the eight-month-long programme.
The priority offer to iwi, Napier Port staff and regional ratepayers was a key engagement initiative – resulting in four significant iwi investors, more than 7,500 local investors (5,000 of whom were new to investing) and 97 percent of Napier Port’s people participating through the Fair Share employee scheme.
Erin played a key role in developing the Product Disclosure Statement, a technical document that set out Napier Port’s share offer and outlined any risks associated with investment. She also worked with the team to host investor events, staff information sessions, public presentations, a media tour and the Listing Day event, which was attended by 350 investors and regional leaders.
When shares reached the open market in August 2019, they were significantly over-subscribed, driving the share price from $2.60 to $2.91 within minutes of listing. This raised the $234 million required for the significant shareholder, Hawke’s Bay Regional Council, to establish a future fund and allowed Napier Port to build 6 Wharf.
