FirstService Announces Normal Course Issuer Bid
FirstService announced the Toronto Stock Exchange has accepted its notice for a Normal Course Issuer Bid to purchase up to 3,930,112 common shares, representing 10% of the public float, over the next 12 months. The company believes its share price does not adequately reflect its business value and intends to use the buyback to mitigate dilution from stock option plans; an automatic share purchase plan has been established to facilitate trading during blackout periods.
Key figures
- Shares Offered
- 3930112
- Public float
- 39301122
- Annual revenue
- $5.5 billion
- Shares outstanding
- 43669770
- Prev ncib avg price
- US$136.87
- Prev ncib shares purchased
- 2311991
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.