Genesis Energy (ASX:GNE, NZE:GNE) opened its fully underwritten 1-for-7.9 pro rata renounceable rights offer, aiming to raise around NZ$300 million to support its broader equity raise, according to a Wednesday filing with the New Zealand and Australian bourses.

Eligible shareholders can buy one new share for every 7.9 shares held at NZ$2.05 apiece, reflecting an around 11% discount to the stock's theoretical ex-rights price, the filing said.