Contact retail share offer oversubscribed

Staff reporters
Thu, 11 Mar 2021

Contact Energy’s $75 million retail offer of shares has been oversubscribed, with 18,677 of its 62,299 shareholders seeking to top up their holdings with an average application of $12,300, or $230m, of new stock.The share purchase plan follows a $325m placement to institutional investors, and will help fund the power company’s plans to expand its geothermal plant at Tauhara near Taupō.The retail offer is priced at $6.74 a share, a 2.5% discount to the five-day volume-weighted average, and cheaper than the $7 paid in the institutiona...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Property
Pet food millionaire snaffles Taupō racetrack
Pattrick Smellie | Sat, 17 Apr 2021

Tony Quinn is adding Taupō's Bruce McLean Park to the motorsport facilities he already owns at Hampton Downs and Highlands.

Markets Exclusive
Market regulator blasts Australian 'culture of leaks'
Dan Brunskill | Sat, 17 Apr 2021

Leaks are threatening market integrity and should not be tolerated, NZ RegCo says.

Opinion
The traditional office is dying a slow, painful death
Jehan Casinader | Sat, 17 Apr 2021

The modern workplace has been through various iterations in recent decades, but no one questioned why it existed in the first place.

Partner Content
Highlights from the New Zealand company earnings season

The February earnings season has provided a snapshot of the impact covid-19 has had on different sectors over the last six months and expectations for the year ahead.

Sponsored
Now’s the time to ask hard questions on our future land use

How can we work together to strengthen our economy and support Kiwis to prosper while protecting our natural environment and our climate.

Loading...