Germany's RWE Plans $4.75 Billion Capital Raise to Fund Increase in Amprion Stake

By Joshua Kirby

RWE said it aims to raise billions of euros via a capital increase as it looks to take majority control of one of Germany's transmission-system operators.

The German energy firm said Monday that it will sell around 74.4 million new shares to institutional investors via an accelerated bookbuild. Based on Monday's closing price of 55.60 euros a RWE share, that would net the company some 4.14 billion euros ($4.75 billion). However, the final placement price will be determined following the conclusion of the bookbuild.

The proceeds of the capital raise will be used to finance an increase in RWE's stake in Amprion, one of Germany's four transmission-system operators. RWE said it intends to buy five shareholders' stakes in Amprion for a total of around 3.6 billion euros, RWE said. That would take the company's indirect stake in Amprion to 55% from around 25% currently, held in a joint venture with Apollo Global Management.

The acquisitions should be completed next quarter, subject to customary conditions including regulatory approval, RWE said.

Two investors--the Qatar Investment Authority and Norway's Norges Bank--have committed to buying around a quarter of the new shares, equal to a value of around 1 billion euros, the company said.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

June 22, 2026 12:43 ET (16:43 GMT)