Contact Energy sells shortfall from rights issue
Contact Energy has sold the 3.8 million shares not taken up in its rights offer at an 80 cent a share premium to the offer price.
Contact Energy has sold the 3.8 million shares not taken up in its rights offer at an 80 cent a share premium to the offer price.
The shares were sold in a bookbuild process and trading in the company's shares was halted while it was carried out.
The shares were sold at $5.85 each, compared to the $5.05 the shares were offered at in the rights issue.
The sale of the shares not taken up takes the amount raised by the company to $351.2m.
The money was raised to strengthen the company's balance sheet and to fund the first part of the 166 megawatt (MW) Te Mihi power station to be constructed by mid-2013.
NZPA
Wed, 08 Jun 2011
Wed, 08 Jun 2011
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Contact Energy sells shortfall from rights issue
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