Contact Energy (ASX:CEN, NZE:CEN) has launched a non-underwritten retail offer to raise up to NZ$75 million, with the ability to accept oversubscriptions, as part of its broader NZ$525 million equity raising program, according to a Thursday filing with the Australian and New Zealand bourses.

The company completed the NZ$450 million placement component of the equity raise on Tuesday, per the filing

The retail offer allows eligible shareholders in New Zealand and Australia to apply for up to NZ$100,000 and AU$41,000 of shares, respectively, with shares to be issued at the lower of the NZ$8.75 per share placement price or a 2.5% discount to the stock's five-day volume weighted average price, the filing added.

The company's Australian and New Zealand shares each rose around 2% in recent Thursday trade.