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Contact Energy Limited ( (COENF) ) has issued an update.
Contact Energy has issued 14,285,676 new ordinary shares at NZ$8.75 each, raising approximately NZ$125 million through a retail offer targeted at New Zealand eligible shareholders. The new shares rank equally with existing stock and increase Contact’s total ordinary shares on issue to 1,060,138,331, representing 1.366% of the class.
The retail offer was heavily oversubscribed, with applications of about NZ$251 million versus an initial NZ$75 million target, prompting Contact to accept an extra NZ$50 million in oversubscriptions. Allocations were scaled based on shareholders’ existing holdings as of the record date, underscoring strong retail investor support and enabling most eligible holders to maintain their pro rata stakes.
More about Contact Energy Limited
Contact Energy Limited is a New Zealand-based electricity generator and energy retailer listed on the NZX under the ticker CEN. The company issues ordinary shares in New Zealand and Australian dollars and has an established retail shareholder base that it actively engages through capital-raising offers.
Find detailed analytics on COENF stock on TipRanks’ Stock Analysis page.