CI Financial (TSE:CIX) has released an update.
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CI Financial has initiated a substantial issuer bid to repurchase up to 5 million of its own shares at $17.50 each, targeting about 3.4% of its total outstanding shares. This strategic move is designed to enhance shareholder value by returning capital and increasing the proportionate share ownership for non-tendering shareholders. The offer is set to expire on October 1, 2024, with all shareholders as of September 30 still eligible for the previously declared dividend.
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