Danish energy company Ørsted said on Monday it has raised almost €8 billion through a fully subscribed rights issue aimed at supporting ongoing offshore wind projects, including the 924MW Sunrise Wind development in the United States.
The offering saw approximately 99.3% of the new shares taken up by investors, either through pre-emptive rights exercised by existing shareholders or by others acquiring rights during the subscription period.
Ørsted confirmed that 451,522,164 shares, or around 50.1% of the total issue, were subscribed by the Danish State, the company’s majority shareholder, in line with its earlier commitment.
The remaining shares were met with strong investor demand, with the company describing interest as “extraordinarily high” following the close of the pre-emptive rights period.
To manage oversubscription, Ørsted’s board allocated all requests for up to 22,446 new shares in full, while larger orders were capped at that level. As a result, no shares were acquired by the underwriting syndicate.
Ørsted Group President and CEO Rasmus Errboe said the capital increase provides crucial financial flexibility at a time of operational and regulatory challenges.
“I’m very pleased with the strong support we’ve received for our rights issue from small and large investors from Denmark and abroad, including from our majority shareholder, the Danish State,” Errboe said.
“The rights issue strengthens Ørsted’s financial foundation, allowing us to focus on delivering our six offshore wind farms under construction, continue to handle the regulatory uncertainty in the U.S., and strengthen our position as a market leader in offshore wind.”
Errboe acknowledged the challenges ahead but reaffirmed the company’s strategic direction.
“It will be a long, tough haul, and we have a lot of work ahead of us… to improve our competitiveness and focus the business on offshore wind, especially in Europe.”
Settlement of the new shares and registration of the capital increase with the Danish Business Authority is expected on October 9, 2025, with trading on Nasdaq Copenhagen scheduled to begin the following day under the existing ISIN code.
Ørsted has faced financial pressures in recent quarters, particularly linked to cost overruns and regulatory delays in the U.S. offshore wind market. The successful rights issue marks a key step in securing funding for projects already under construction and stabilising the company’s long-term investment outlook.
