(RTTNews) - Equinor ASA (EQNR), a Norwegian energy company, on Wednesday announced the commencement of the third tranche of its 2026 share buyback program on July 23.
The third tranche is valued at up to $1.125 billion, including shares to be redeemed from the Norwegian State.
The tranche will run until no later than October 26.
Under the third tranche, the company will repurchase up to $371.3 million of shares in the open market, with the remaining amount comprising proportionate shares redeemed from the Norwegian State.
The company said the purpose of the program is to reduce its issued share capital.
The shares repurchased under the third tranche will be cancelled through a proposed capital reduction at the company's annual general meeting in May 2027.
The company said the buyback program was initially set at up to $1.5 billion for 2026 and was later increased to up to $3 billion at its Capital Markets Day in June.
On Tuesday, Equinor ASA closed trading 0.64% higher at $37.59 on the New York Stock Exchange. In the overnight, the stock further traded 0.19% higher at $37.66.
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