Orsted sets 67% discount for $9.4bn rights issue

Renewable energy trailblazer raising capital to fund US projects

Danish offshore wind developer Orsted said on Monday it priced its $9.42bn (€8bn) rights issue at 66.6 crowns (€8.90) per share, representing a 66.7% discount to the stock's closing price on Friday.

Danish offshore wind developer Orsted said on Monday it priced its $9.42bn (€8bn) rights issue at 66.6 crowns (€8.90) per share, representing a 66.7% discount to the stock's closing price on Friday.

Earlier this month, Orsted won shareholder approval for the capital raise, which it needs to help fund US projects thrown into uncertainty by US president Donald Trump's opposition to the renewable energy source.