5 Aug 2015

Origin sells Contact shares

12:53 pm on 5 August 2015

Australian company Origin Energy says it has successfully sold all of its shares in Contact Energy at $4.65 each.

It said the shares had been sold to a broad range of institutional investors in New Zealand, Australia and elsewhere; and to retail investors in New Zealand.

Origin Energy said the shares would net it about $NZ200 million and $A1.4 billion when the sale is finalised on Monday.

It will use the money to pay down debt and redeem $200 million of redeemable preference shares in Contact Energy.

The halt in the trading of Contact Energy shares has now been lifted.