trending Market Intelligence /marketintelligence/en/news-insights/trending/qv39_CMHG-EQ-9jhMbgJyQ2 content esgSubNav
In This List

CIBC signs automatic share purchase plan

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


CIBC signs automatic share purchase plan

Canadian Imperial Bank of Commerce entered into an automatic share purchase plan with its broker, CIBC Capital Markets, to facilitate repurchases of common shares under its previously announced normal course issuer bid.

The bank had received approval from the Toronto Stock Exchange to repurchase for cancellation up to 9 million common shares under its bid. Under the bid, which started June 4 and expires June 3, 2020, the bank may repurchase common shares through the facilities of the TSX and alternative Canadian trading systems and the NYSE.

Under the automatic share purchase plan, which has also been approved by the TSX, CIBC Capital Markets may purchase common shares at times when CIBC ordinarily would not be active in the market due to insider trading rules and its own internal trading blackout periods. CIBC Capital Markets will make purchases based on parameters set by CIBC before the start of any such blackout period and in accordance with the terms of the automatic share purchase plan.