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Contact Energy Limited ( (COENF) ) has issued an announcement.
Contact Energy Limited has issued 4,987,902 new ordinary shares via a placement at NZ$9.42 per share, valuing the transaction at NZ$47 million. The shares have been used as scrip consideration for the acquisition of shares in King Country Energy Limited under a sale and purchase agreement with King Country Energy Holdings Limited and the trustees of the King Country Trust dated 17 April 2026.
The newly issued shares will be subject to voluntary escrow under an escrow deed until 17 April 2027, with limited exceptions allowing transfers to certain wholesale investors. The placement was not underwritten and was not open to existing shareholders generally, indicating a targeted transaction structure focused on facilitating the strategic acquisition rather than broad capital raising from the market.
More about Contact Energy Limited
Contact Energy Limited is a New Zealand-based electricity generator and retailer, listed on the NZX under ticker CEN. The company operates in the energy sector, supplying electricity and related services to customers across the country and managing a portfolio of power generation assets.
For detailed information about COENF stock, go to TipRanks’ Stock Analysis page.