Orsted reveals key details of $9.4bn rights issue

Embattled Danish utility Orsted has published the prospectus for its DKr60bn ($9.4bn) rights issue, intended to financially shore up its troubled US offshore wind ventures and to strengthen its capital structure.

The company will be offering new shares with pre-emptive rights for existing shareholders during the period from September 19 to October 2, 2025.

The subscription price of new shares is DKK 66.60.

“We’re raising capital to cover immediate financing needs from retaining full ownership of Sunrise Wind, to manage risks from regulatory uncertainty in the US, and to strengthen Orsted’s capital structure so we can deliver on our growth pipeline and long-term value creation,” CEO Rasmus Errboe said.

The proceeds will contribute to financial resilience in the years from 2025 to 2027 when the company is slated to complete the construction of 8.1GW of offshore wind projects, which will increase the capacity of offshore wind farms in which it owns stakes to 18.3GW.

Other existing shareholders also have pre-emptive rights to subscribe for their respective pro rata share of the capital increase in the rights issue.