- Colliers International ( NASDAQ: CIGI ) said Friday it will buy back up to 3.5M subordinate voting shares under a normal course issuer bid.
- This represents 9.85% of 35.5M such shares comprising the public float as of Friday.
- The NCIB will span a 12-month period starting Jul. 20 and ending no later than Jul. 19, 2023.
- Stock purchases will not exceed 5% of the outstanding subordinate voting shares as at the start of the NCIB.
- Daily purchases under the NCIB will be limited to 21.9K shares, other than block purchases.
- All shares purchased by CIGI under the NCIB will be cancelled.
- As of Friday, there were ~41.6M subordinate voting shares and 1.3M multiple voting shares outstanding.
- CIGI's prior NCIB, expires on Jul. 19, authorized the purchase of up to 3.2M subordinate voting shares.
- The firm has so far purchased 999.4K of such shares under the previous NCIB.
For further details see:
Colliers International to buy back up to 3.5M subordinate voting shares under NCIB