trending Market Intelligence /marketintelligence/en/news-insights/trending/di8AC24k5R1htxjQ8JpHxQ2 content esgSubNav
In This List

Sun Life plans to launch normal course issuer bid

Blog

Financial Institutions Factor Transition Risk into Climate-Related Stress Testing

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Blog

Investment Research Brokers Ramp up Cryptocurrency Coverage

Blog

COVID-19 Impact & Recovery: Financial Industry Outlook for H2 2021


Sun Life plans to launch normal course issuer bid

Sun Life Financial Inc. plans to launch a normal course issuer bid to purchase for cancellation up to 15 million common shares, which represent about 2.54% of the 591,038,889 common shares issued and outstanding as of June 30.

The plan is subject to the approval of the Office of the Superintendent of Financial Institutions in Canada and the Toronto Stock Exchange. The company will file a notice of intention with the Toronto Stock Exchange in this regard.

The normal course issuer bid is expected to commence Aug. 14 and continue until Aug. 13, 2020, or such earlier date as the company may determine or as the company completes its purchases pursuant to the issuer bid.

Under its current normal course issuer bid, which expires Aug. 13, Sun Life is authorized to purchase for cancellation up to 18 million common shares.