Harbour Energy

Harbour Energy shares fell 3.1% to 269.2 pence after BASF announced a buyback of 53 million shares. BASF is selling the shares for about $190 million at a price of 266 pence each, roughly 4% below the prior day’s closing price. The transaction reduces BASF’s holding from 24.3% to 16.4%, but it remains the largest shareholder. » More on de.investing.com

Harbour Energy has agreed to repurchase its own shares from BASF in line with an agreement from June; the buyback could amount to up to $200 million. BASF plans to place around 133 million Harbour shares, of which about 53 million are to be sold to Harbour and 80 million placed with institutional investors. The buyback is conditional on completion of the offering, the repurchased shares will be cancelled, and any purchase price exceeding $150 million will be deducted from the previously announced buyback volume of up to $250 million. » More on finanzen.net

Harbour Energy intends to repurchase up to $200 million of its own shares from its major shareholder BASF as part of a placement proposed by BASF. BASF plans a placement of around 133 million shares, of which about 53 million are to be sold to Harbour and a further 80 million through an accelerated placement to institutional investors. The buyback is subject to the closing of the offering; the repurchased shares are to be cancelled. Any purchase amount above $150 million will be deducted from the previously announced buyback programme of up to $250 million. » More on finanzen.net