July 1, 2022 03:47

Flex LNG buys back Oslo-listed shares

Flex LNG.
Flex LNG.

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Oslo and New York-listed gas carrier snaps up 100,000 shares in trio of purchases.

Flex LNG has conducted another round of buy backs, snapping up 100,000 shares in recent weeks, bringing its treasury shares to 900,000.

The Oslo and New York-listed gas carrier bought nearly 6,000 of its own shares on the Oslo Stock Exchange on Monday at an average price of NOK 121.48, boosting its ownership to 1.66%.

The purchase follows hot on the heels of another two buy-backs, when the company played the market between 18th June and 21st June, making a haul of 27,344 shares for an average of NOK 119.76, and between 7th and 9th July for 66,694 shares at an average of NOK 120.86.

A $31m share repurchase plan was set up in November 2020, with 6.9m spent by May this year on 800,000 shares. Since the repurchase plan started the company’s shares have risen from $7.45 on 19th November, 2020 to $13.39 on Friday.

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