Investor and billionaire Øystein Spetalen has, through his investment company Tycoon, bought 190,000 shares in Equinor. The shareholder lists show that the new share purchase is the only Spetalen owner of Equinor shares.
It is not known what price the shares were bought for, but with Friday’s share price of NOK 308, the value corresponds to NOK 58.6 million.
The low oil and gas prices have pulled the stock market engine Equinor, which makes up over 20 per cent of the main index, down almost ten per cent since Christmas. Among the large companies on the stock exchange, it is Equinor that has clearly fallen the most this year.
The profiled investor is well used to being in and out of companies quickly.
The shareholder lists arrive with a delay of a couple of days. This means that Spetalen may have reduced or increased its stock in the last couple of days. The changes in the shareholder lists can also stem from other financial transactions.
Rotation on the Stock Exchange
The stocks that did well last year, such as energy, shipping and raw materials, have had a bad start to the year.
Oil prices are under pressure due to an expected lower demand for oil, the slowdown in the world economy, and concerns about the growth prospects in China.
The spot price of Brent North Sea oil, which is used as a reference for oil trading worldwide, has recently been below 80 dollars a barrel. That after falling from 86 dollars at the beginning of the year.
Almost ten percent down
Equinor, which has a market value of 979 billion, has fallen close to ten percent this year. By comparison, Vår Energi has fallen by more than six percent so far this year.
At the end of the trading day on Friday, the Equinor share traded for NOK 308, which is a decrease of around 20 per cent from the peak in August 2021. At that time the price was NOK 387.
Equinor presents its report for the fourth quarter as early as February 8, and on the same day it organizes a capital market day, which usually takes place in London.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using links, which lead directly to our pages. Copying or other forms of use of all or part of the content may only take place with written permission or as permitted by law. For additional terms se her.
