Overview
- Infratil agreed to sell 53.53 million Contact Energy shares at NZ$9.25 each in a fully underwritten block trade.
- The sale will raise about NZ$495 million, which Infratil says will support future growth.
- The transaction will cut Infratil’s stake in Contact Energy to roughly 9.08 percent.
- Macquarie Capital is reported as the lead on the deal, according to the Australian Financial Review.
- The large parcel on offer coincided with a 1.6 percent drop in New Zealand’s main share index as energy stocks slipped.