Contact Energy (ASX:CEN) share price on watch after updates

The Contact Energy Limited (ASX: CEN) share price will be one to watch when it resumes trade after the group released a January 2021 monthly update this morning.

Shares in the Kiwi energy group have been placed in a trading halt ahead of a proposed share placement and share purchase plan (SPP) announcement.

The halt is in place until the earlier of an announcement or Wednesday’s open, with an announcement expected by 1 pm tomorrow.

Why is the Contact Energy share price on watch?

Contact Energy is the second largest New Zealand energy company. It operates as an electricity generator, natural gas wholesaler and electricity, natural gas, broadband and LPG retailer. The Kiwi energy group has a market capitalisation of $5.1 billion…