On Monday On the Copenhagen Stock Exchange, Orsted's quotations dropped by up to 19 percent.despite the company's assurances that the crisis is under control, and the planned issue of shares for the amount of 60 billion of Danish crowns (about $ 9.4 billion) will be implemented.
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Suspension of the Revolution Wind project
The order to suspend work applies to the Revolution Wind project, whose construction costs $ 4 billion. – says Jefferies International Ltd. This is another problem for ORSsted, after which the rating agency reduced the company's credit assessment to the lowest level in the investment category.
Investors are afraid of Will Orsted find an agreement with the US government and how much time it can take or whether the company will give up the project and what costs will be. Uncertainty may weaken interest in the planned broadcast of shares, which would be the largest sales of shares in the European energy sector for over a decade. The Danish government plans to buy about half of the securities.
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Orsted problems in the USA
For Orsted, one of the world's largest visa developers in the world, the US administration decision means another difficult stage in the unsuccessful attempt to expand the American market. In recent years, the company has been struggling with problems in the supply chain, it had to cancel two large projects, make a number of copies and list the highest management.
– Orsted is considering all options to resolve the case in dialogue with permits agencies as soon as possible, as well as potentially by way of legal proceedings, with a purpose of continuing the project as soon as possible – the company informed.
This year, ORSsted lost 48 percent. value, which means losing almost $ 8 billion in the company's capitalization.
