Copenhagen-headquartered renewable energy major Orsted has announced a massive rights issue priced at a steep ~67% discount to its last closing price. The company will issue 900.8 million new shares at DKK 66.60 each, compared to Friday’s close of around DKK 200, aiming to raise approximately DKK 60 billion ($9.4 billion).
The issue will be carried out at a subscription ratio of 15:7, offering existing shareholders pre-emptive rights to maintain their stakes. The subscription window opens on September 19, 2025, and closes on October 2, 2025.
Orsted CFO Trond Westlie said the fundraising is necessary to strengthen the balance sheet and support the company’s flagship 8.1 GW Sunrise Wind offshore project, expected to generate annual EBITDA of up to DKK 12 billion by 2028.
The heavily discounted issue highlights Orsted’s urgent need for capital after the company abandoned a partial divestment plan for Sunrise Wind last month.
Global investment banks including Morgan Stanley, BNP Paribas, Danske Bank, and J.P. Morgan are acting as joint coordinators for the fully underwritten offering.
