8 Sep 2024 14:25:06
Posted: 06 Sep 2023
The third NZU auction for the year took place at midday today - and was "declined" again for the third time this year.
No volume had been sold at the previous two auctions, meaning that in addition to today's scheduled volume of 4.475 million, there was volume carried over from the first two auctions, taking the total available to 13.425 million.
A floor price of $33.06 applied, and a further 8 million units were available at a trigger price of $80.64. As usual, a Confidential Reserve Price (the "CRP") also applied.
For the Government to have sold volume at today’s auction, either (A) all 13.425 million units were required to be bid for at or above the CRP, or (B) a portion of the 13.425 million could be sold, subject to all buying interest turning up at a level at, or above, the CRP.
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