EnBW Secures $3.6 Billion Through Share Sale for Energy Investments
FRANKFURT (Reuters) -German utility EnBW on Tuesday said it had raked in 3.1 billion euros ($3.6 billion) in proceeds from a share sale aimed to bolster its ambitious investment programme in energy networks and renewables.
The company said it sold nearly 54 million shares at a price of 58 euros per share, a 9% discount to the current share price.
"The capital increase significantly increases our financial headroom," finance chief Thomas Kusterer said.
"Together with operating earnings, which is the most important pillar, participation models and debt funding, we are thus laying the basis for investments planned through the end of this decade."
($1 = 0.8562 euros)
(Reporting by Christoph Steitz, Editing by Friederike Heine)
