Nordex Raises EUR 200 Million with Capital Increase

The wind turbine manufacturer was able to sell almost 11 million shares. With this, the company wants to stimulate growth and strengthen the balance sheet.

The wind turbine manufacturer Nordex has raised fresh money on the stock market with a capital increase. Almost 11 million shares had been sold for 18.90 euros each, the company announced on Tuesday evening.

Nordex thus earned around EUR 200 million gross. The company wants to use the money to boost growth and strengthen its balance sheet. The anchor shareholder Acciona also supported the capital increase and wanted to participate “with a substantial order”. The Spanish conglomerate recently owned a good 36 percent of Nordex.

The Nordex share fell on Wednesday morning after the start of trading by 9.2 percent to 18.07 euros. After that, the paper was able to curb the losses somewhat. The move comes as a surprise, but with it Nordex is probably taking advantage of the current strong state of the capital markets, wrote Constantin Hesse from Jefferies.

Nordex shares have had a run since the Corona crash in spring. Most recently, the outcome of the US presidential election gave another boost because investors expect a more favorable environment for renewable energies in the United States. Currently, the share still has a plus of around half in the current year, even after the sharp price decline on Wednesday.

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