Listed infrastructure investor, Infratil, has taken a step closer to selling shares in Z Energy by appointing four investment banks as lead managers for the sale.
Infratil still hasn't committed to a share float, but says it's on track to list Z Energy some time during the September quarter.
Among the first Infratil has appointed are those with large retail client bases including Craigs Investment Partners and Forsyth Barr and an Infratil executive, Tim Brown, says it will target retail investors.
He says retail investors at the moment are looking for low risk, solid dividend type stocks which Z Energy definitely is.
