Danish energy company Orsted has completed a rights issue raising approximately €8 billion through the issuance of new shares, the company said on Wednesday. The funds will be used to support the construction of the 924-megawatt Sunrise Wind project in the United States and to finance ongoing operations.
A total of 900,816,600 new shares with a nominal value of DKK10 each were subscribed in the offering. The shares have been registered with the Danish Business Authority and are expected to begin trading on Nasdaq Copenhagen on 10 October under the same ISIN code as Orsted’s existing shares.
Following the completion of the rights issue, Orsted’s share capital has increased by DKK9.01 billion to a total of DKK13.21 billion, divided into 1,321,197,680 shares. The total number of voting rights in the company now stands at 1,321,197,680.
Orsted said the capital increase will contribute to the delivery of its global renewable energy pipeline while reinforcing its balance sheet.
The Sunrise Wind project, being developed off the coast of New York, is a joint venture between Orsted and Eversource. It forms part of the company’s broader strategy to expand its offshore wind footprint in North America.
