11th Sep 2026 09:01
Harbour Energy PLC - Edinburgh-based oil and gas producer with operations across Europe, Latin America, North Africa and Southeast Asia - BASF SE sells 133 million shares in Harbour Energy, at 7.9% stake, at 266 pence per share, worth GBP353.8 million, in a placing run by Morgan Stanley Europe SE and a buyback by Harbour Energy. Morgan Stanley places 80.0 million shares with institutional investors, while Harbour Energy separately agreed to buy back 53.0 million shares from BASF. The planned share sale was first announced by Morgan Stanley and BASF after the London market close on Thursday.
BASF, a Ludwigshafen, Germany-based chemicals maker, retains a 16% stake in Harbour Energy and has agreed to a 60-day lock-up, during which BASF won't sell any more Harbour Energy shares. The shares repurchased by Harbour Energy will be cancelled, it says, with around USD40 million of the purchase from BASF counting towards Harbour's ongoing USD250 million share buyback programme. The purchase from BASF follows an agreement between the two companies that was approved by Harbour Energy shareholders back in May.
Harbour Energy stock price: 269.20 pence, down 3.1% in London early Friday
12-month change: up 21%
By Tom Waite, Alliance News editor
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