Ørsted raises $9.35bn through rights issue

Core Insights - Ørsted has successfully raised DKr59.56bn ($9.35bn) through a rights issue to enhance its capital structure and support ongoing projects [1][2] - The rights issue saw approximately 99.3% of the new shares subscribed by existing shareholders and new investors, including a significant commitment from the Danish state [2] - The capital raised will enable Ørsted to maintain full ownership of the Sunrise Wind project and strengthen its financial position from 2025 to 2027 [4] Financial Details - The new shares were issued at a subscription ratio of 15:7 and a price of DKr66.60 per share [1] - Ørsted plans to complete 8.1GW of offshore wind projects, increasing its total capacity to 18.3GW [5] - Earlier this year, Ørsted secured a finance package of T$90bn for the Greater Changhua 2 offshore wind farm in Taiwan [6] Strategic Focus - The rights issue is aimed at reinforcing Ørsted's financial foundation, allowing the company to focus on delivering six offshore wind farms currently under construction [3] - Ørsted aims to enhance its competitiveness and concentrate on offshore wind projects, particularly in Europe, to contribute to regional energy independence [5]