Infratil has launched its retail shortfall bookbuild after an earlier $NZ400 million equity raising to buy Vodafone New Zealand.
UBS was selling 15.1 million shares at a floor price of $NZ4 per share for Infratil under the Retail Entitlement Offer.
Bids were being called for in 5c increments.
Infratil moved to raise $NZ100m through an institutional placement and an accelerated pro-rata renounceable entitlement offer to raise about $NZ300m and has 15.1 million shares left over.
It comes after Infratil agreed to buy Vodafone New Zealand earlier this year with Brookfield for $NZ3.4bn.
The retail book opened at 5.15pm New Zealand time and was to close at 7.30pm NZT.
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