What is the expected market reaction and price impact of the new share capital registration on TGS's stock

Market reaction:

The registration of new share capital to accommodate the vesting of Performance Stock Units (PSUs) and Restricted Stock Units (RSUs) will modestly raise the floating‑share count, creating a short‑term dilution signal. However, the announcement was made on 11 August 2025 and the market has already priced the dilution into the price—evidenced by the very bullish sentiment score (10) and a relatively muted price move on the news day. In practice we can expect a small corrective pull‑back of 1‑3 % on the next trading session as investors rebalance their exposure, followed by a quick stabilization as the share‑based incentives are seen as aligning management with shareholders and supporting continued earnings growth.

Technical & trading implications:

TGS has been trading in a tight upward channel around the 115‑120 NOK level, with the 20‑day EMA sitting just above the current price and the 50‑day EMA providing strong support at ~112 NOK. The brief dip from the dilution is likely to test the 20‑day EMA; a bounce above it would signal the corrective leg is over and the up‑trend can resume. A practical play is to buy on a dip near the 112‑113 NOK area, targeting the upper channel at 118‑120 NOK, and place a stop just below the 20‑day EMA (~111 NOK). For more risk‑averse traders, a short‑term sell‑stop order near the current level (≈115 NOK) can capture the anticipated 1‑2 % pull‑back, with an exit if the price falls through the 112 NOK support. In the longer run, the dilution is not material relative to TGS’s cash flow generation and the upside from higher oil‑price forecasts, so the bias remains neutral‑to‑bullish once the short‑term wobble subsides.