Infratil says it has agreed to sell 53.53 million shares - representing a 5 percent stake - in Contact Energy through a fully underwritten block trade.

The sale is at $9.25 per ordinary share, generating expected gross proceeds of about $495.17 million, and taking Infratil’s shareholding down to 9.08 percent.

The sell-down is expected to complete on May 25.

Generate investment specialist Greg Smith says Infratil will have other opportunities they'll want to take advantage of, like data centres. 

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Infratil says it has agreed to sell 53.53 million shares - representing a 5 percent stake - in Contact Energy through a fully underwritten block trade.
The sale is at $9.25 per ordinary share, generating expected gross proceeds of about $495.17 million, and taking Infratil’s shareholding down to 9.08 percent.
The sell-down is expected to complete on May 25.
Generate investment specialist Greg Smith says Infratil will have other opportunities they'll want to take advantage of, like data centres.&nbsp;
LISTEN ABOVE

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Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Greg Smith: Generate investment specialist on Infratil selling Contact Energy stake to fund future growth

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/85721f5c-1e26-49c8-8b00-b4500072c2b4/transcript