Shares in wind turbine maker Nordex fall after share sale

An engineer works at the Nordex wind turbine factory hall in Rostock

Shares in wind turbine maker Nordex fell 8% on Wednesday after the group raked in more than 200 million euros ($241 million) in a share sale to fund growth and strengthen its balance sheet.

Nordex, which competes with Siemens Gamesa and Vestas, said it sold 10.7 million new shares at 18.90 euros apiece, resulting in 202 million of proceeds.

The group said that Spain’s Acciona, Nordex’s largest shareholder with a 36.41% stake, participated in the share sale, having said earlier the group would place a “significant order”.

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