GOVERNMENT TO SELL 25 PCT OF AIR NEW ZEALAND
  The New Zealand Government will sell
  25 pct of state-owned &lt;Air New Zealand Ltd> to the public,
  Civil Aviation minister Richard Prebble said.
      Prebble said in a statement the government would appoint an
  adviser to help it decide how the shares should be sold, the
  timing of any sales and the price.
      "Clearly there will be a need to gauge the effect of other
  proposed share issues so as to enter the market at the best
  opportunity," Prebble said.
      "We are in no particular rush to sell our shares in Air New
  Zealand," he said.
      "Our aim is to maximise the benefit to the taxpayer. If that
  means waiting for a while, then so be it," Prebble said.
      He said Air New Zealand expects to release its results soon
  for the year to March 31 1987. He said he was confident it
  would post an excellent profit.
      Prebble said Air New Zealand was successful but its ability
  to prosper in future was hampered by its
  wholly-government-owned status.
      Prebble said access to new sources of capital would
  increase its ability to expand and develop.
      This sale announcement follows the public float in March of
  around 13 pct of the &lt;Bank of New Zealand Ltd>.
      The government has said it will also float part of the
  capital of other state-owned operations, including &lt;DFC New
  Zealand Ltd>, formerly Development Finance Corp of New Zealand
  Ltd, and Petroleum Corp of New Zealand Ltd.
  

