Why contact energy has sought $400 million?

$400 million is being sought by Contact Energy Limited in an equity raise slated to begin today (15 February 2021). The funds will be used to lower the Company’s debt and provide the means to initiate the construction of the Tauhara thermal energy plant. The raise consists of a $325 million institutional placement (underwritten) as well as a $75 million retail offer for existing shareholders (not underwritten).

* Seeka Settles Class Action With Crown Seeka Limited has announced that they have settled their class-action suit against the Crown. The class action was in relation to the outbreak of the plant bacterium PSA that affected kiwifruit growers in NZ a decade ago. Seeka alleges that the Government acted negligently in allowing the bacterium to enter the country.

* SkyCity Entertainment reacts to NZ’s 3-day lockdown SkyCity Entertainment Group Limited has announced the measures they will be taking in reaction to the lockdown orders stated by the NZ Government yesterday evening. On 15 February, at the time of writing, SKC shares were trading at $2.930, down 1.35% since the market opened this Monday morning.

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