Orsted Investors Approve Rights Issue After Profit Warning (2)

Orsted A/S shareholders voted to support a crucial 60 billion Danish kroner ($9.4 billion) rights offering, just after the company issued a fresh profit warning on Friday.

The Danish wind developer is asking for almost three-quarters of its market value in new capital after turmoil caused by President Donald Trump’s efforts to halt the development of offshore wind farms.

Rasmus Errboe

Source: Orsted A/S

The capital raise is an attempt by Chief Executive Officer Rasmus Errboe to steady Orsted’s finances after Trump’s policies to limit offshore wind stifled the company’s ability to sell a stake in the Sunrise project it’s already building. Just ...