New Zealand firm Chapman Tripp is advising state-owned Mighty River Power Ltd. on its expected $1.6 billion initial public offering.

Trading is expected to begin May 10. If completed, it will be the New Zealand Stock Exchange’s largest listing in history.
 
Mighty River Power is one of New Zealand’s largest electricity suppliers, serving close to a fifth of the country. The New Zealand government is using the IPO to sell a minority 49 percent stake in order to raise funds to close a budget deficit. It is also selling similar stakes in other state-owned energy companies.
 
Chapman Tripp Auckland partners Stephen Lowe, Tim Tubman, Roger Wallis, and Pip England are acting for Mighty River Power. Sullivan & Cromwell special counsel Waldo Jones, Jr., who heads the firm’s Sydney office, advised on U.S. law.**
 
New Zealand firm Bell Gully acted for the New Zealand government on the deal, led by Auckland partners Brynn Gilbertson, James Gibson, and Toby Sharpe and Wellington partner Mark Freeman.*
 
Sidley Austin Sydney managing partner Robert Meyers and Russel McVeigh Auckland partner Pip Greenwood are representing joint lead managers First NZ Capital Securities Ltd., Credit Suisse (Australia) Ltd., Goldman Sachs New Zealand Ltd. and Macquarie Capital (New Zealand) Ltd.
 
Email: tbrennan@alm.com .
 
Updated, 5/10/13: This story has been updated to include Sullivan & Cromwell as U.S. counsel to Mighter River Power, and Bell Gully as adviser the New Zealand government.
Correction, 5/20/13: A previous version of this story wrongly described Sullivan & Cromwell’s Waldo Jones, Jr., as Sydney managing partner. He is special counsel and head of the firm’s Sydney office. We regret the error.