Latest news with #rightsissue
Bloomberg
5 days ago
- Business
- Bloomberg
Orsted Fails to Convince Investors It's Through The Worst
Management of Orsted A/S failed to convince analysts and investors that the company is at a turning point after losing nearly one third of its value from announcing it would sell shares. The offshore wind farm developer plunged the most on record as investors digested a planned rights issue that's effectively a handout by the Danish government. The state plans to buy just above half of the securities.
Zawya
5 days ago
- Business
- Zawya
Saudi Industrial Development Company eyes big capital hike
The Saudi Industrial Development Company (SIDC) said it has won regulatory approval from the kingdom's Capital Market Authority (CMA) to more than double its capital from SAR135 million ($36 million) to SAR300 million ($80 million) through a rights issue. Accordingly, the number of company's ordinary shares will increase from 13.5 million to 30 million, an increase of 16.5 million ordinary shares at a ratio of (1.222) shares for every one owned share and at an offering price of SAR10 per share, said SIDC in its filing to Saudi bourse Tadawul. The Saudi group said the rights issue will be open only for those who are registered in its shareholders' register at the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the EGA that approves the capital increase through a rights issue, which will be announced at a later stage. The approval from CMA came yesterday (August 10) after SIDC fulfilled all the regulatory requirements and comments relating to the capital increase application including publishing the rights issue prospectus and inviting the company's Extraordinary General Assembly (EGA) in this regard. The company will now have to get the go-ahead from its shareholders at the EGA and completing all relevant regulatory procedures and requirements. Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
Orsted Plans $9.4 Billion Rights Issue to Fund Offshore Wind Projects
Orsted ORSTED -0.10%decrease; red down pointing triangle plans to propose a rights issue that could raise $9.4 billion as it seeks fresh funds to continue its offshore wind construction projects. The Danish renewable-energy company said Monday it plans to offer new shares to existing shareholders, with support from the Danish state as the majority owner, to raise gross proceeds of 60 billion Danish kroner ($9.36 billion).
Yahoo
5 days ago
- Business
- Yahoo
Denmark's Orsted plans to raise $9.4 billion in rights issue
STOCKHOLM (Reuters) -Danish wind farm developer Orsted said on Monday it plans a 60 billion Danish crowns ($9.38 billion) rights issue with support from the Danish State as majority shareholder. ($1 = 6.3953 Danish crowns) Sign in to access your portfolio
Bloomberg
5 days ago
- Business
- Bloomberg
Orsted Plans $9 Billion Rights Issue to Strenghen Balance Sheet
Orsted A/S said it will conduct a rights issue to raise as much as 60 billion Danish kroner ($9.4 billion). The offering, which confirms a Bloomberg News report from Friday, will help the Danish renewable-power giant shore up its balance sheet after a challenging period in recent years. The rights issue has the support of the Danish state, which is the company's majority shareholder.
