on 18 april 1994 trustpower listed on the new zealand stock exchange. this allowed the specialist infrastructure and utility investor infratil ltd to acquire 11 million shares and become its largest shareholder. by this time it had approximately 40,000 customers as well as a half share in the kaimai hydro power scheme. meanwhile, the rotorua electric power board had also changed its financial structure to become the roturua electricity ltd. by 1995 trustpower had built up a 67.7% shareholding in this new entity and in 1996 took full control.