Equinor (EQNR) said Monday its board of directors decided to propose a share capital reduction to shareholders through the cancellation of own shares and redemption of shares held by the Norwegian state following its 2025 buyback program.

The company said the proposal would cut share capital by 415.1 million Norwegian kroner ($43.8 million) to 5.98 billion kroner from 6.39 billion kroner via the cancellation and redemption of about 166.1 million shares, adding that a notice for the general meeting to consider the plan will be issued at a later date.

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