There is life in the Ørsted share this week, which first offered an increase of 4.3 percent on Monday, while Tuesday almost seems to be able to match Monday's rise.
The share rose by another 4.2 percent on Tuesday morning, and the explanation is probably to be found in an article published by the Norwegian Finansavisen on Monday afternoon. Here, analyst Teodor Sven-Nielsen from Sparebank 1 Markets says that he has heard rumors that the Danish state's shares in Ørsted are for sale, and that the Norwegian energy company Equinor is in the picture to increase its ownership stake in Ørsted. Equinor is the state-owned Norwegian energy company that last year bought ten percent of the shares in Ørsted.
Neither Equinor nor the Ministry of Finance has wanted to comment on the rumors to Finansavisen. But nevertheless, they continue to circulate, and this may have prompted certain investors to buy up Ørsted shares in the hope that Equinor will eventually make a bid for the outstanding shares.
Investment economist: Higher price unlikely to deter Equinor
This kind of thing usually happens at a premium compared to the current price, and it would not be unrealistic in the case of Ørsted. This is what investment economist Per Hansen from Nordnet estimates to MarketWire.
- It is unlikely to deter Equinor from paying a certain premium. Their purchase of shares has taken place at somewhat higher prices, he believes.
Per Hansen estimates that Equinor has paid at least DKK 400 per share for its current shareholding, and on Monday morning the share is trading around DKK 330.
The Ørsted share was trading close to DKK 1300 back in January 2021. Since then, rising interest rates and write-downs on several American projects have taken a toll on the share price, and on January 23, the price was down to DKK 257.
/ritzau/
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