Wed Sep 25 08:57:59 UTC 2024: ## Skandinaviska Enskilda Banken Slashes Borr Drilling Stake by 97.3%

**NEW YORK, NY -** Skandinaviska Enskilda Banken AB publ (SEB), a Swedish multinational financial services company, significantly reduced its holdings in Borr Drilling Limited (NYSE: BORR) during the second quarter, according to a recent filing with the Securities and Exchange Commission (SEC). SEB’s stake in the offshore drilling company decreased by a massive 97.3%, leaving them with only 4,449 shares after selling a substantial portion of their previous holdings.

The move suggests a decline in SEB’s confidence in Borr Drilling’s future prospects, potentially signaling a shift in sentiment within the financial community. This news comes amidst a challenging period for the offshore drilling industry, which has been grappling with low oil prices and reduced demand for drilling services.

While SEB’s dramatic reduction in its Borr Drilling stake is noteworthy, it remains to be seen whether other investors will follow suit and whether the company will be able to weather the current industry headwinds. Borr Drilling has yet to issue a public statement on the matter.

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