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Equinor to Launch Third $1.1 Billion Tranche of Share Buyback

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Equinor (EQNR.OL) said Tuesday it intends to repurchase up to $1.13 billion worth of shares under the third tranche of its share buyback.

The tranche will run from Thursday through Oct. 26. The Norwegian energy major will buy up to $371.3 million worth of shares in the market, while the remaining amount will be redeemed from the Norwegian State. The repurchase price range is between 50 Norwegian kroner and 1,000 kroner per share.

Equinor said it will appoint a third party to carry out the repurchases on its behalf. The launch of future tranches will be subject to quarterly approval from the board.

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