the financial markets authority approved the sale of mighty river power on 12 april, with the initial public offering (ipo) opening on 15 april. however, the ipo was temporarily suspended on 22 april while a supplementary disclosure was issued, after the labour and green parties in opposition announced plans to reform the electricity market if elected to government at the 2014 election. at the close of the ipo on 5 may, there were 113,000 shareholders, and on 8 may the opening share price was set at $2.50, raising $1.7 billion. the government was slightly disappointed, blaming the labour-green policy for putting off many more potential shareholders, and with the finance minister indicating before the policy was announced that the price would be in the $2.70 to $2.80 range. the government retained 51.78 percent of the shareholding, with another 1.02 percent owned by other crown interests (mainly the new zealand superannuation fund).