Nordex is aiming to raise €212m from a rights issue.
The German turbine manufacturer said the aim of the exercise is to “strengthen its capital structure”.
The proceeds will increase the company’s equity ratio “in the current volatile environment for the wind industry”.
A total of 35,923,089 new ordinary bearer shares of the company with no par-value will be issued at a subscription price of €5.90 per share
“Nordex believes the increased cash position will safeguard against risks from the short-term headwinds affecting the industry, and also further improve positioning with its customers,” it said.
“The Company intends to use the net cash proceeds from the Rights Offer for general corporate purposes as cash requirements arise in its business.
“Subject to the approval of the prospectus by the German Federal Financial Supervisory Authority (BaFin) and the publication of the approved prospectus on the Company’s website (www.nordex-online.com), the subscription period will commence on (and including) Wednesday, 13 July 2022 and end on (and including) Tuesday, 26 July 2022.”