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Toronto exchange approves Brookfield Renewable's new normal course issuer bid

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Toronto exchange approves Brookfield Renewable's new normal course issuer bid

Brookfield Renewable Partners LP announced Dec. 10 the early termination of its normal course issuer bid, and that the Toronto Stock Exchange accepted its request for a new normal course issuer bid for its limited partnership units.

The partnership is allowed to repurchase up to 8.9 million units, or about 5%, of its issued and outstanding units. As of the close of business Dec. 6, there were 178,945,449 units issued and outstanding, according to a news release.

Under its normal course issuer bid, Brookfield Renewable may purchase up to 47,001 units on the Toronto Stock Exchange during any trading day. The partnership can repurchase the units from Dec. 12, 2019, until Dec. 11, 2020.

The partnership has not purchased any units under the existing normal course issuer bid, according to the news release.