The Toronto Stock Exchange approved Brookfield Asset Management Inc.'s renewal of its normal course issuer bid to purchase up to 82,530,440 class A limited voting shares.

The normal course issuer bid will extend from May 24, 2019, to May 23, 2020, or at an earlier date Brookfield completes the repurchases. Its previous bid ran from May 24, 2018, to May 23, 2019, with the company purchasing 4,741,650 class A shares at a weighted average price of US$41.45.

The number of shares which can be bought back under the current bid represent 10% of the public float of Brookfield's class A shares.