Larry Ellison cancels plan to sell 50 million Oracle shares
In Singapore, Channel NewsAsia reported that Oracle Executive Chairman Larry Ellison had cancelled a plan to sell up to 50 million of the company’s common shares. Oracle said that no shares had been sold under the plan and that Ellison has no other plans to sell his own shares in the company.
Plan cancelled the following day
A day earlier, Ellison had disclosed a trading plan that allowed him to sell up to 50 million Oracle shares. The company did not name the reasons for cancelling the plan.
In February, Oracle said it expected to raise between $45 billion and $50 billion in 2026 through a combination of debt and equity financing. The company plans to use these funds to expand cloud infrastructure capacity and meet demand from customers including AMD, Meta, Nvidia, OpenAI, TikTok and xAI.
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Financing and share performance
In the current fiscal year, Oracle plans to raise $40 billion through debt and equity financing. This amount includes a $20 billion share sale completed in the first quarter.
In a regulatory filing on Friday, the company said restructuring costs, which include job cuts, would increase by about $700 million. On the same day, Oracle shares rose by as much as 7.8% after its portfolio of future revenue increased by $26 billion, easing concerns about the company’s debt-financed spending. Later, the shares reversed direction and ended trading about 2% lower; analysts noted that the recovery of cash flow would still take time.
