Mighty River Power, the first of a group of New Zealand government assets to be partially floated, could be dual listed in New Zealand and Australia, although no firm decision has been made, State Owned Enterprises Minister Tony Ryall said Thursday.

“The government is considering a number of issues in connection to the government share offers and we’ll be making decisions at the appropriate times. All information will be made available on or before the release of the prospectus,” Mr. Ryall said via email.

The government has said it plans to hold the initial public offering for the shares by the third quarter of this year, depending on market conditions. It will retain a 51% stake in the company and has said it will prioritize local ownership in the sale.

While the shares will be listed on the New Zealand stock exchange, Mr. Ryall said “no decisions have been made on any secondary listing in Australia.”

The government intends to reduce its 100% stakes in Meridian Energy, Genesis Energy, Solid Energy New Zealand and Mighty River Power to  51%, and to reduce its holding in Air New Zealand to 51% from 74%. It expects to raise around 6 billion New Zealand dollars (US$4.8 billion) from the sales.

Credit Suisse, Goldman Sachs and Macquarie are joint lead managers on the initial public offering.