The first substantial shareholder in Meridian Energy to emerge since its float this week is the Bank of New York Mellon Corporation.
A notice to the stock exchange shows the American company owns just over 8% of the instalment receipts the Government sold.
The Government sold 49% of Meridian and said New Zealanders still own 86.5 per cent of the electricity generator and retailer.
The American company owns just over 102 million shares of the 1.26 billion instalment receipts - they were sold at $1 each with a further 50 cents due in 18 months.
That means the Bank of New York Mellon Corporation owns about 4% of Meridian.
