An opportunistic offer to buy TrustPower shares at below market value closes at 6pm Friday, with TrustPower recommending people ignore the Powershares LP offer.

'It's a bona fide offer in the sense that someone is offering to buy the shares, but we don't endorse the offer because it is well below market value,” says TrustPower chief executive Vince Hawksworth.

Tauranga TrustPower shareholder Margaret Hore was offered $5.30 per share, $2 below the current market value of $7.35.

Describing the offer as an 'opportunistic play” Vince says the offer launched on December 31 and closing Friday, January 7 is made at a time of year when access to professional advice is limited for many shareholders. The offer has sparked discussion in financial circles about the rules governing such offers in this country.

'Apparently in other jurisdictions someone making an offer like that would have to compare it with the current market value,” says Vince.

It was made at a time of year when small shareholders, who may not be aware of their shareholding's current value, could be caught out.

'If any shareholder wants to sell their shares they would be as well to do that either by going through a registered broker who would then sell on their behalf at market rate – or doing it themselves through computer share,” says Vince.

'Our advice is the offer is below market value, don't accept it and ignore the documents. It's as simple as that really.”