- Magna International ( NYSE: MGA ) has received TSX acceptance to initiate a normal course issuer bid to purchase for cancellation up to 28.44M common shares, representing ~10% of its public float.
- As at November 1, 2022, Magna ( MGA ) had 285,819,254 issued and outstanding common shares, including a public float of 284,454,286 shares.
- The bid will commence on November 15, 2022 and will terminate no later than November 14, 2023. The previous bid for the purchase of up to 29,948,000 shares will expire on November 14, 2022.
- The primary purposes of the bid are purchases for cancellation, as well as purchases to fund stock-based compensation awards or programs and/or Magna’s obligations to its deferred profit sharing plans.
For further details see:
Magna receives TSX acceptance to execute normal course issuer bid