The Toronto Stock Exchange has accepted TransAlta Corp.'s notice of intention to make a normal course issuer bid for up to 14 million common shares.

The potential shares to be repurchased under this normal course issuer bid represent approximately 4.92% of the company's issued and outstanding common shares as at May 27.

The company may purchase the shares through open market transactions on the Toronto Stock Exchange and any alternative Canadian trading platforms on the prevailing market price. Any shares purchased under the bid will be canceled.

The bid will commence May 29 and will end May 28, 2020. The company may also elect to terminate the bid earlier.