WELLINGTON, April 28 (Reuters) - New Zealand's largest listed power company, Contact Energy Ltd said on Thursday it would look to raise about NZ$350 million ($280 million) through a one-for-nine rights offer to fund investment in new generation.
Contact said shares would be offered at NZ$5.05, compared to its closing price of NZ$5.83 on Wednesday, and would be taken up by 50 percent shareholder Origin Energy.
The funds would be used to develop a range of generation options including gas, geothermal, wind and hydro, the company said.
($1=NZ$1.25)
(Reporting by Adrian Bathgate) Keywords: CONTACTENERGY/ (Adrian.Bathgate@thomsonreuters.com)(+64 4 471 4233)(Reuters Messaging: adrian.bathgate.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Contact said shares would be offered at NZ$5.05, compared to its closing price of NZ$5.83 on Wednesday, and would be taken up by 50 percent shareholder Origin Energy.
The funds would be used to develop a range of generation options including gas, geothermal, wind and hydro, the company said.
($1=NZ$1.25)
(Reporting by Adrian Bathgate) Keywords: CONTACTENERGY/ (Adrian.Bathgate@thomsonreuters.com)(+64 4 471 4233)(Reuters Messaging: adrian.bathgate.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.