New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

<ul><li>February 2026 was dominated by two equity raises and the government’s announcement that it is pursuing an LNG import facility.</li><li>The LNG facility announced by the government on 9 February appears to have been a key factor in 2028 and 2029 ASX futures prices declining ~-NZ$22/MWh (~-14%) in the following three weeks.</li><li>Contact Energy (CEN) and Genesis Energy (GNE) equity raises were to support new asset development, which remains a key focus for the sector.</li></ul>

February 2026 was dominated by two equity raises and the government’s announcement that it is pursuing an LNG import facility.The LNG facility announced by the government on 9 February appears to have been a key factor in 2028 and 2029 ASX futures prices declining ~-NZ$22/MWh (~-14%) in the following three weeks.Contact Energy (CEN) and Genesis Energy (GNE) equity raises were to support new asset development, which remains a key focus for the sector.

Power Points Not All Megawatts Are Equal—March 2026