Wind Firm Orsted’s Key Shareholder Andel Joins Financing Plan

The third-largest shareholder in Orsted A/S plans to participate in the wind developer’s rights issue and defend its roughly 5% stake in the company.

Danish energy company Andel Holding A/S will exercise its right to buy additional shares in Orsted, investing 3 billion kroner ($474 million), it said in a statement on Tuesday. Andel’s participation represents a much-needed show of confidence from a major shareholder, after the Danish state and Equinor ASA already said they would buy shares in the offering.