Orsted, the world's largest offshore wind developer, experienced a 26.8% share crash after announcing a $9.4 billion rights issue. The company cited a "material adverse development" in the U.S. market, preventing a planned Sunrise Wind project divestment. This capital raising measure, backed by the Danish State, aims to strengthen Orsted's financial position and support its ongoing projects.

Prepared by Christopher Adams and reviewed by editorial team.