Equinor ASA Proposes Share Capital Reduction
Equinor ASA, a Norwegian energy company, has submitted a proposal to reduce its share capital through the cancellation of own shares and redemption of shares held by the Norwegian State. This proposal is a result of the company’s ongoing share buy-back program.
The proposal will be presented to the company’s general meeting for consideration. The exact details of the proposal are not specified in the announcement.
Rating Upgrade by Oddo
In a separate development, Oddo has upgraded Equinor’s rating to neutral from underperform. The investment firm has also set a target price of 255 Norwegian kronor for the company’s stock.
Stock Price Volatility
Equinor’s stock price has experienced fluctuations in recent times due to market volatility. The exact impact of the proposed share capital reduction on the company’s stock price remains to be seen.
Key Points
- Equinor ASA proposes to reduce its share capital through the cancellation of own shares and redemption of shares held by the Norwegian State
- The proposal will be presented to the company’s general meeting for consideration
- Oddo has upgraded Equinor’s rating to neutral from underperform with a target price of 255 Norwegian kronor
- Equinor’s stock price has been volatile in recent times