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

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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