Ørsted raises $9.35 billion through rights issue

Ørsted has raised DKR59.56 billion ($9.35 billion) through a rights issue to strengthen its capital structure and support ongoing projects.

This rights issue allowed existing shareholders, including the Danish state, which holds a 50.1% stake, and new investors with vested rights, to subscribe to new shares.

The Danish Offshore Wind Company issued the new shares at a subscription ratio of 15:7 and a price of DKR66.60 per share.

Existing shareholders or new investors with pre-emptive rights have subscribed to approximately 99.3% of the 894,298,680 new shares.

The Danish state also subscribed to 451,522,164 shares as part of its commitment.

Ørsted President and CEO Rasmus Errboe said: “I am very pleased with the strong support we have received for our rights issue from small and large investors in Denmark and abroad, including from our majority shareholder, the Danish state.

“The rights issue strengthens Orsted’s financial foundation, allowing us to focus on delivering our six offshore wind farms under construction, continue to manage regulatory uncertainty in the United States, and strengthen our position as a market leader in offshore wind.

“We will continue to work hard on executing our strategy and delivering results quarter after quarter. It will be a long and difficult journey, and we have a lot of work ahead of us in the coming years to ensure progress on our projects under construction, improve our competitiveness and focus the business on offshore wind, especially in Europe.”

Ørsted said the capital raised will support the retention of its full ownership of Dawn Wind and strengthen its financial position from 2025 to 2027.

During the period, the company plans to complete 8.1GW of offshore wind projects, expanding its capacity to 18.3GW.

Additionally, Ørsted aims to use the enriched capital base to make further investments in offshore wind projects in Europe, contributing to regional energy independence.

This August, the Trump administration ordered Ørsted to halt its nearly complete construction of the Revolution wind project in Rhode Island. A United States federal judge later overturned the ban, allowing the company to resume work.

Earlier this year, Ørsted closed a T$90 billion financial package to support the development of the large Changhua 2 offshore wind farm in Taiwan.

“Ørsted Raises $9.35 Billion Through Rights Issue” was created and originally published by Power Technology, a brand owned by Globaldata.

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