Genesis Energy launches NZ$300m rights offer to fund growth push

An update from Genesis Energy Limited ( (DE:1G6) ) is now available.

Genesis Energy has opened an underwritten 1-for-7.9 pro rata renounceable rights offer to raise about NZ$300 million at NZ$2.05 per new share, following a recently completed NZ$100 million placement. The offer, priced at a discount to the theoretical ex-rights price and below the placement level, forms part of a wider equity raising to accelerate Genesis’ pipeline of growth opportunities and will see untaken or ineligible rights sold via a shortfall bookbuild, with any premium shared among non-participating and ineligible shareholders.

The rights will not be quoted on NZX or ASX, and new shares issued under the offer will not be entitled to the interim dividend due on 25 March 2026. Key dates span from the 2 March record date through to allotment and trading of new shares on 25 March and payment of any bookbuild premium on 31 March, providing existing shareholders and institutional investors a defined timetable to adjust holdings and participate in the capital raising that supports Genesis’ growth strategy.

More about Genesis Energy Limited

Genesis Energy is a diversified New Zealand energy company that sells electricity, reticulated natural gas and LPG, and is one of the country’s largest energy retailers with about 500,000 customers. It generates power from a mix of thermal and renewable assets across New Zealand and holds a 46% stake in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field off Taranaki, and reported NZ$3.7 billion in revenue for the year to 30 June 2025.

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