Canaccord Genuity Group Inc. has filed a normal course issuer bid for the repurchase of up to 5,677,589 of its common shares.
The repurchases will be conducted through the facilities of the Toronto Stock Exchange and on alternative Canadian trading systems from Aug. 15 to Aug. 14, 2019.
The shares to be repurchased, which represent 5.0% of the Vancouver-based investment banking and financial services company's outstanding common shares, will be canceled. As of July 31, there were 113,551,789 common shares issued and outstanding.
Under a bid that started on Aug. 15, 2017, Canaccord has purchased 106,400 common shares for cancellation at a volume weighted average of approximately C$7.01 per share.