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.
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