Norsk Hydro To Initiate Share Buyback Program of Up To 100 Million Shares
23 September 2022 - 4:51PM
Dow Jones News
By Dominic Chopping
Norwegian energy and aluminum company Norsk Hydro ASA said
Friday it has decided to initiate a share buyback program that will
see up to 100 million shares purchased for a maximum of 2 billion
kroner ($192.2 million).
The company said NOK2 billion is equivalent to around 1.6% of
the market value of its share capital at the current share
price.
The buyback program will commence Sept. 26 and is set to be
finalized within March 29, 2023, with the authorization being valid
until Sept. 20, 2023.
The Norwegian state is Norsk Hydro's largest shareholder, with a
34.3% stake, and the company said it has entered an agreement that
will ensure the state's ownership is unchanged after the buyback
and subsequent share cancellations.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
September 23, 2022 02:36 ET (06:36 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Norsk Hydro ASA (QX) (USOTC:NHYDY)
Historical Stock Chart
From May 2024 to Jun 2024
Norsk Hydro ASA (QX) (USOTC:NHYDY)
Historical Stock Chart
From Jun 2023 to Jun 2024
