ESSEN (dpa-AFX) - German utility RWE AG (RWEOY.PK) said that it has launched cash capital increase with exclusion of shareholders' subscription rights through accelerated bookbuilding.
The share capital of RWE will be increased by 10% by issuing bearer common shares against cash contributions under the exclusion of shareholders' subscription rights. The new shares will be entitled to the dividend for fiscal year 2020.
The company plans to invest the expected net proceeds from the capital increase in additional short-term capacity build-out, enhancements of pipeline and in further visible mid- and long-term growth opportunities in renewables portfolio.
The company will use parts of the proceeds to finance the planned acquisition and realisation of the 2.7 GW project pipeline from Nordex.
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