Renewable Energy (Wind)
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Orsted plunges 26% as it plans $9.4 billion rights issue after ‘adverse' turn in U.S. market
CNBC· 2025-08-11 08:10
Group 1 - Orsted shares fell over 25% after announcing a 60 billion Danish kroner ($9.4 billion) rights issue due to a "material adverse development" in the U.S. market [1][2] - The adverse development has hindered the company's ability to raise funds from a planned partial divestment of its Sunrise Wind project off the coast of New York [1] - Existing shareholders will have the first refusal on the new shares being offered in the rights issue [2]