Brookfield Asset Management Inc. has received approval from the Toronto Stock Exchange for the renewal of its normal course issuer bid to purchase up to 82,315,909 class A limited voting shares, representing 10% of the public float of the company's outstanding class A shares.
The period of the bid will extend to May 23, 2019, from May 24, 2018, or an earlier date should Brookfield complete its purchases.
As of May 1, the number of class A shares issued and outstanding totaled 991,857,711, of which 823,159,095 shares represented the public float.
Of the 82,965,721 class A shares approved for purchase under Brookfield's prior normal course issuer bid that commenced May 24, 2017, and will expire May 23, Brookfield purchased 2,041,064 class A shares through open-market purchases on the TSX and 4,082,000 class A shares through open-market purchases on the New York Stock Exchange.
Brookfield will enter into an automatic purchase plan on or about the week of June 25, in relation to the normal course issuer bid.