Vestas stock falls on share issue fears

Shares in Danish wind turbine maker Vestas plunged as much as 14 percent on Thursday as worries mounted that the company could ask shareholders for more capital, Reuters reported.

Stock in the company, facing fierce competition from Asian rivals and a global economic downturn which is curbing investment in renewable power projects, slid for a third consecutive day.

Manufacturing problems, cost overruns and delayed revenues wiped out 2011 earnings and led to profit warnings in late October 2011 and January of this year, damaging investor confidence and triggering job cuts and a sweeping reorganization.

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