The country’s largest listed power generator – 50% owned by Australia’s Origin Energy – says it plans a one-for-nine issue of new shares at NZ$5.05 each, a 13.8% discount to its closing price on Wednesday.
The funds are being sought to enable Contact Energy to invest in gas and renewable energy projects, starting with the 166MW Te Mihi power station near Taupo, in the centre of the North Island.
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