Borr Drilling (BORR) has released an update.
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Borr Drilling has announced a $20 million share repurchase program by the end of 2024, as part of its $100 million authorization, to reduce share capital and benefit shareholders. The company will begin the first $10 million tranche of buybacks on November 13, 2024, with a cap of 3 million shares at a maximum price of $5 per share. This move is expected to impact the company’s stock performance as it progresses with its strategic repurchase plan.
For further insights into BORR stock, check out TipRanks’ Stock Analysis page.
