Equinor To Commence Third Tranche Of Up To $1.6B In Its 2024 Share Buy-Back Programme
Portfolio Pulse from Benzinga Newsdesk
Equinor is set to commence the third tranche of its 2024 share buy-back program, with plans to purchase shares worth up to $528 million in the market. The total tranche, including shares to be redeemed from the Norwegian State, will amount to $1.6 billion and will conclude by October 22, 2024.
July 24, 2024 | 5:04 am
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Equinor is initiating the third tranche of its 2024 share buy-back program, planning to buy back up to $528 million worth of shares in the market. The total tranche, including shares to be redeemed from the Norwegian State, will amount to $1.6 billion and will end by October 22, 2024.
Share buy-back programs typically signal confidence from the company in its own stock and can lead to a short-term increase in stock price due to reduced supply and increased demand. The significant amount involved ($1.6 billion) further underscores the potential positive impact on Equinor's stock price.
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