9:45 am today

Gentailer Contact Energy is in a trading halt.

Gentailer Contact Energy is in a trading half as its large shareholder, Infratil, begins selling a 5 percent stake in the company.

In a market statement, Infratil said it would sell 53.5 million ordinary shares in Contact Energy at $9.25 a piece with gross proceeds of about $495.17m, which was expected to be completed on 25 May.

Following the sale, Infratil's shareholding in Contact would be about 9.08 percent.