NZSE:CENElectric Utilities
Contact Energy (NZSE:CEN) Valuation Check After NZ$125m Follow On Equity Offering
Contact Energy (NZSE:CEN) has raised NZ$125 million through a follow on equity offering of 14,285,714 new ordinary shares at NZ$8.75. This move directly affects existing shareholders.
See our latest analysis for Contact Energy.
The follow on offer comes at a time when momentum has cooled slightly. The latest share price is NZ$9.24, with a modest 1 year total shareholder return of 13.98% and a stronger 5 year total shareholder return of 73.79%, which points to longer term resilience.
If this...