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CI Financial amends buyback plan

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CI Financial amends buyback plan

CI Financial Corp. received the Toronto Stock Exchange's approval to make a normal course issuer bid.

CI Financial amended its share repurchase plan to increase the number of common shares that may be bought back to 25,356,405, representing 10% of its public float, from 20,000,000. The bid runs from Dec. 17 through June 17, 2019.

The company bought back 17,006,200 of its common shares at a weighted average price of nearly C$20.86 apiece between June 18 and Dec. 6 under its current normal course issuer bid.