Opinion Analysis

57,600 Contact Energy shareholders have a big decision

Brian Gaynor
Sat, 20 Feb 2021

Contact Energy's Ohaaki geothermal power station.
Brian Gaynor
Sat, 20 Feb 2021
Contact Energy was straight out of the starting blocks on Monday morning with a trading halt followed by the announcement of a $400 million capital raise.Institutional investors have taken up the bulk of the equity raising but $75m has been reserved for retail investors who have been given the opportunity to apply for up to $50,000 worth of new shares worth $7 each.Contact Energy had 63,275 shareholders at the end of June 2020 with 57,596, or 91.0%, holding fewer than 5,000 shares.The opportunity to purchase another $50,000 worth of shares is a...

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