New Zealand's Infratil eyes $288 million from trimming Contact Energy stake

Contact Energy

19/05/2026 22:30

May 20 (Reuters) - New Zealand-based infrastructure investment firm Infratil IFT.NZ said on Wednesday it would sell 5% of its stake in Contact Energy CEN.NZ for NZ$495.17 million ($288.83 million).

Infratil CEO Jason Boyes said the stake sale would provide the company additional flexibility to fund growth opportunities though there were no immediate funding requirements.

Here are some more details:

Infratil's stake in Contact will reduce to 9.08% after the sale, which is expected to be completed by May 25.

The firm said it was selling 53.5 million Contact shares for NZ$9.25 apiece, a 7.3% discount to the stock's last close.

CEO Boyes added that Infratil remains confident in Contact and the broader sector outlook, and will retain its remaining shares at least until Contact's annual results announcement.

($1 = 1.7144 New Zealand dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru; Editing by Diti Pujara)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))