No More Stake: Nel ASA Sells Shares In Nikola

Oslo, Norway - Norway's Nel ASA has divested all its shares in the US-based Nikola Corporation. The hydrogen company further announced that a total of approximately 1.1 million Nikola shares have been sold for a total value of approximately USD 7.5 million.

Nel has reported the investment in Nikola as a financial current asset. The sale is not intended to affect in any way the good cooperation with Nikola, Nel ASA announced.

Nel ASA did not share a more detailed reason for the sale.

Nel further announced the increase of its share capital through the issuance of approximately 4.45 million new shares, which were registered in the Norwegian Company Register. This fulfills Nel's obligations under a share option program for employees. The company's new share capital amounts to NOK 312,658,220.80, divided into 1,563,291,104 shares with a par value of NOK 0.20 each.

The Nel ASA share is trading today at a price of approximately 1.59 euros.

Source: IWR Online, 17 Aug 2022