Equinor ASA
Description
Equinor launched a share buyback program of up to $5 billion over a period until the end of 2022. The first tranche of the program of around $1.5 billion is commencing today and will end no later than February 2020.
The share buy-back program of up to $5 billion, including shares to be redeemed from the Norwegian State, is intended to be executed in the market until the end of 2022. Based on the closing Equinor share price and the USD/NOK exchange rate on September 2019 the full program represents around 292 million shares or around 8.7 % of the share capital. The purpose of the share buy-back program is to reduce the issued share capital of the company. All shares repurchased as part of the program will be canceled.