Norsk Hydro to initiate share buyback program

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Norwegian power and aluminum corporate Norsk Hydro ASA mentioned Friday it has determined to initiate a share buyback program that can see up to 100 million stocks bought for a most of two billion kroner ($192.2 million).

The corporate
NHY,
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mentioned NOK2 billion is similar to round 1.6% of the marketplace price of its share capital on the present share value.

The buyback program will begin Sept. 26 and is ready to be finalized inside March 29, 2023, with the authorization being legitimate till Sept. 20, 2023.

The Norwegian state is Norsk Hydro’s biggest shareholder, with a 34.3% stake, and the corporate mentioned it has entered an settlement that can be sure that the state’s possession is unchanged after the buyback and next share cancellations.

Write to Dominic Chopping at dominic.reducing@wsj.com

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