EnergyWatch

Discount shares send EDF tumbling on stock exchange

In the attempt to raise money to fund the construction of the nuclear power plant Hinkley Point C, French energy major EDF is now selling its shares at a discount. This has prompted the share price to take a drastic dive.

An imminent raising of capital at discount prices is taking its toll on the stock exchange for Électricité de France (EDF) which hit its lowest level ever this Wednesday in its 11 years as a listed share.

EDF, of which the French states owns five sixths, needs EUR 4 billion in new capital and is thus selling new shares at EUR 6.5 each. Tuesday, when trading closed, an EDF share cost EUR 6.5.

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