Infratil Limited (ASX: IFT), an infrastructure investment company focused on renewable energy, digital infrastructure, airports, and healthcare, announced a significant change in its substantial holding in Contact Energy Limited (NZX/ASX: CEN). Contact Energy is a major New Zealand electricity generator and retailer. The disclosure, made on 20 May 2026, revealed that Infratil Investments Limited, a subsidiary of Infratil, has entered into an agreement to dispose of a substantial parcel of ordinary shares in CEN. This move marks a notable adjustment in Infratil’s investment portfolio.
Under the terms of the agreement, Infratil Investments has appointed Macquarie Securities (NZ) Limited as the underwriter to sell 53,531,358 ordinary shares in Contact Energy. The shares are to be sold at a fixed price of NZ$9.25 per share, which is expected to generate total gross proceeds of approximately NZ$495.2 million. The settlement for this transaction is anticipated to occur on 25 May 2026. Prior to this disposal, Infratil and its subsidiary held 150,758,379 ordinary shares, representing 14.081% of Contact Energy’s total shares. Following the settlement, their holding will be reduced to 97,227,021 shares, equating to approximately 9.081% of CEN.
The announcement specified that the relevant event being disclosed was a “change in nature of relevant interest,” reflecting the execution of the underwriting agreement for the share disposal. This substantial reduction in Infratil’s stake in Contact Energy highlights a strategic portfolio adjustment. Furthermore, Infratil Investments has undertaken an escrow arrangement, agreeing not to deal in its remaining Contact Energy securities until the release of the issuer’s results for the year ended 30 June 2026, expected around 18 August 2026, subject to certain exceptions.
