CI Financial (TSE:CIX) has released an update.
CI Financial Corp. has announced the preliminary results of its substantial issuer bid, with approximately 23.45 million shares tendered and an expectation to repurchase and cancel 5 million shares at $15.50 each. The buyback, totaling around $77.5 million, represents about 3.3% of the company’s outstanding shares. Due to oversubscription, shareholders who tendered will see roughly 20.38% of their offered shares bought back, with further details pending final verification.
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