Contact Energy stake sale confirmed

Australia's Origin Energy has confirmed its plans to sell its 53.09 per cent controlling stake in Contact Energy.

Contact said Origin had advised that it planned to undertake the sale of its 389.3 million ordinary through an underwritten sell-down.

Origin has requested that Contact seek a trading halt until it confirmed that the sale has completed. Contact has announced the trading halt would be effective from today.

At Monday's closing price of $5.02, Origin's stake would be worth $1.95 billion in total.

Add a Comment

Our journalists are your neighbours

We are the South's eyes and ears in crucial council meetings, at court hearings, on the sidelines of sporting events and on the frontline of breaking news.

As our region faces uncharted waters in the wake of a global pandemic, Otago Daily Times continues to bring you local stories that matter.

We employ local journalists and photographers to tell your stories, as other outlets cut local coverage in favour of stories told out of Auckland, Wellington and Christchurch.

You can help us continue to bring you local news you can trust by becoming a supporter.

Become a Supporter