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Contact Energy Limited ( (COENF) ) just unveiled an announcement.
Contact Energy Limited has applied for quotation on the ASX of 4,987,902 additional ordinary fully paid shares under its foreign exempt listing, expanding its CEN quoted capital to 537,690,834 shares. The new shares, valued at an estimated AUD 7.76 per share, are being issued as non-cash consideration to acquire shares in King Country Energy Limited under a sale and purchase agreement dated 17 April 2026.
The issuance is structured so the new shares rank equally with existing CEN ordinary shares and are being used specifically to fund the acquisition of King Country Energy as an asset purchase. This move increases Contact Energy’s equity base while advancing its strategic consolidation in the New Zealand electricity market, with restrictions in place to prevent on-sale of the new securities in a manner that would breach Australian secondary sale provisions within 12 months.
More about Contact Energy Limited
Contact Energy Limited is a New Zealand-based energy company whose ordinary shares are quoted on the ASX as a foreign exempt listing under the ticker CEN. The company operates in the electricity sector, with its listed equity and debt securities providing investors exposure to the New Zealand power market.
For a thorough assessment of COENF stock, go to TipRanks’ Stock Analysis page.