FRANKFURT/LONDON, Mar 15 (Reuters) - Siemens Energy raised 1.259 billion euros ($1.33 billion) in a capital increase to help finance the acquisition of the entire share capital of Siemens Gamesa wind power group, the company said on Wednesday.
Siemens Energy launched a bid in November for the remaining stake it did not already own in Siemens Gamesa, frustrated by a series of profit forecast cuts in the division that had become a problem for its parent as well.
The company sold some 72.7 million new shares to institutional investors at 17.32 euros a unit, equivalent to a 5% discount to Wednesday's closing price. Siemens Energy shares had fallen 7% on Wednesday in a broad selloff on stock markets around the world, closing the day at E18.23 per share.
"We are very pleased to see that institutional investors, among others BNP Paribas Energy Transition Fund, have confidence in our strategy to become the leader in the energy transition," Siemens Energy CFO Maria Ferraro said.
"The capital increase has been covered almost four times. The successful placement of new shares is an important milestone in the refinancing of our takeover bid for Siemens Gamesa and supports our strong investment grade credit rating," she added.