Ørsted starts USD-8m share buy-back programme

Danish offshore wind major Ørsted A/S (CPH:ORSTED) is looking to buy back up to 110,000 own shares to meet obligations arising from its share-based incentive programme.

The company started the share buy-back programme on November 1 and expects to conclude it on November 15. During this period it will repurchase own shares at a total price not higher than DKK 51 million (USD 7.8m/EUR 6.8m).

The maximum amount that can be bought back during the period corresponds to 0.03% of the current share capital of Ørsted.

The Danish energy company has appointed Nordea as lead manager of the programme.

On Thursday, Ørsted lifted its earnings guidance for 2018 after making “good progress” in its under-construction offshore wind projects and booked higher earnings for its wind and gas business.

(DKK 1.0 = USD 0.153/EUR 0.134)

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