Magna International Sets Up New Normal Course Issuer Bid to Purchase Up to 28.5 Million Shares

MT Newswires Live11-05

Magna International (MGA) said Tuesday it is terminating its existing normal course issuer bid and that a notice to establish a new normal course issuer bid was accepted by the Toronto Stock Exchange.

The notice covers purchases of up to 28.5 million common shares, equal to about 10% of its public float, Magna said.

The company said its prior normal course issuer bid will terminate at the close of trading on Wednesday and the new bid will start on Thursday to terminate on Nov. 6, 2025.

Magna said it also established an automatic share purchase plan to facilitate the purchase of shares under the new bid.

Price: 42.29, Change: +0.15, Percent Change: +0.36

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment