NEW ZEALAND
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From Times Staff and Wire Reports
Utilities Stocks to Be Listed: The New Zealand Stock Exchange said it will waive its rules and allow listing of a number of small energy companies owned by local governmental authorities who plan public share offerings. Under recent legislative changes, local authorities are empowered to sell shares in regional electricity companies. To satisfy local concerns about foreign domination, a number of those companies have corporate rules against any shareholder owning more than 20% of the company.
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