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Kollage: Christine Vierø Larsen. Originalfoto: Erik Petersen, Martin Zakora

Ørsted is so desperate for cash that it’s selling new shares at a ’shockingly’ low price, leaving all current shareholders, including the Danish treasury, poorer.

Ørsted shocks analysts: »No one could have seen this coming«

Kollage: Christine Vierø Larsen. Originalfoto: Erik Petersen, Martin Zakora
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At first glance, Ørsted’s rescue plan might seem like a good one. The Danish energy giant is in financial trouble, partly because U.S. President Trump has obstructed a major offshore wind project. However, there’s now a direct route to securing the missing billions:

Last week, the company’s current owners gave the green light for Ørsted to sell new shares worth DKK 60 billion, and several banks have since guaranteed the maneuver. This means that if Ørsted’s new shares don’t all sell, the banks have guaranteed to buy the remainder.

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