Investors pour in as Equinor exits Lundin, but stock trades down

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By Sam Kerr
06 May 2020

Equinor, the petroleum refining company, sold the last of its shares in oil and gas exploration firm Lundin Energy in a Skr3.3bn ($335m) block trade on Tuesday evening.

Morgan Stanley and SpareBank 1 Markets were the bookrunners on the 14m share trade, worth around 4.88% of Lundin’s share capital.

The transaction was launched at 4.44pm UK time on Tuesday after a wall-crossing exercise. It was officially covered in just over 10 minutes.

Price guidance followed ...

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