A tad more than that
"An original investor who participated in Infratil’s initial public offering could have acquired 1,000 shares for $1,000 (500 in March 1994 and 500 in September 1994). That person would now have shares worth nearly $130,790 on 30 September 2022 - 15,462 shares (at $8.65 each).

A post-tax return of 18.6% a year over 29 years. In contrast, the NZX50 delivered a return of 8.3% a year over the same period."
https://infratil.com/for-investors/o...d-performance/