Statoil Switching to Equinor this Week
- Business & Finance
Norwegian oil and gas company Statoil said it will vote on the proposal to change the company’s name to Equinor this week.
The company expects to implement the name change from (and including) May 16, 2018. This entails that May 15, 2018 is expected to be the last day of trading on Oslo Børs under the ticker “STL”.
From May 16, 2018, the company’s shares are expected to trade on Oslo Børs under the new ticker “EQNR”. The exact date of change of ticker on NYSE will be announced separately, however implementation of the new ticker on NYSE will take place on May 17, 2018 at the earliest.
Based on statements made in support of the name change by the company’s majority owner, the company expects the AGM to approve the proposal to change the company’s name to Equinor ASA.
The name Equinor is formed by combining “equi”, the starting point for words like equal, equality and equilibrium, and “nor”, signalling a company proud of its Norwegian origin.