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Simplicity keen on Kiwibank investment as Government unveils $500m funding strategy

Rebecca Stevenson
Rebecca Stevenson
Tue, 10 Dec 2024
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Simplicity keen on Kiwibank investment as Government unveils $500m funding strategy
The Treasury and Kiwibank's parent have been asked to test private investor appetite for a $500 million placement. (Image: KiwiBank)
At least one KiwiSaver provider is keen to pump some cash into Kiwibank – as long as the price is right. On Monday afternoon, the Government announced a $500 million plan to tap institutional investors and KiwiSaver funds to boost Kiwibank and help it compete against the big four Australian-owned banks. The Government said Kiwibank could be floated for wider public investment, but that wouldn’t be possible until it had completed its digital transformation, which was expected in 2028. The Treasury and Kiwibank’s...
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