Contact Energy offer pulls in $332 million from shareholders

In New Zeraland, Contact Energy Ltd. has raised $331.9 million towards building the $623 million, 166 MW Te Mihi geothermal power plant. The company was looking to raise $350 million through a 1-for-9 renounceable rights issue with shares at a 13.8% discount. Almost two thirds of shareholders took the company up on the offer.