- Brookfield Asset Management ( NYSE: BAM ) has received TSX approval for the renewal of its normal course issuer bid (NCIB) for preferred shares.
- Under the bid, the alternative asset manager may purchase up to 10% of the public float of each series of its outstanding Class A Preference Shares that are listed on the TSX through facilities of the TSX and/or alternative Canadian trading systems. Brookfield ( BAM ) will pay the market price at the time of acquisition.
- The bid will extend from Aug. 22, 2022 to Aug. 21, 2023, or an earlier date should Brookfield ( BAM ) complete its purchases.
- As of Aug. 12, 2022, Brookfield did not make any purchases of the preferred shares as part of its current normal course issuer bid that will expire on Aug. 19, 2022.
- It will enter into an automatic share purchase plan on or about the week of Sep. 19, 2022 in relation to the NCIB.
For further details see:
Brookfield receives TSX approval for renewal of normal course issuer bid