Napier Port revealed it needs to raise more than $200 million on the share market to help ease congestion woes.
The Hawke's Bay Regional Council is to list a 45 per cent stake of the country's fourth largest port after consultation with rate payers.
Funds raised will go to paying back debt and construction of a new wharf.
An indicative share price of between $2.27 and $2.60 was set today.
Hawke's Bay residents, local iwi and port workers will have first priority to the 90 million available shares.