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Aimia Inc. ( (TSE:AIM) ) just unveiled an announcement.
Aimia Inc. announced the completion of its substantial issuer bid to repurchase all preferred shares in exchange for 9.75% senior unsecured notes due in 2030. This transaction is expected to save the company approximately $6.4 million annually and result in a $53.7 million gain under IFRS. It is seen as accretive to common shareholders by reducing cash outflows and increasing net asset value by $0.53 per share. The initiative marks the first step in Aimia’s strategic review process aimed at enhancing company value.
More about Aimia Inc.
Aimia Inc. operates in the financial services sector, focusing on investment management and loyalty program services. The company is publicly traded on the Toronto Stock Exchange under the symbol AIM.
YTD Price Performance: -10.37%
Average Trading Volume: 37,395
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: C$230.9M
See more data about AIM stock on TipRanks’ Stock Analysis page.
