- Allied Properties Real Estate Investment Trust (AP.UN) has received approval from the TSX for a normal course issuer bid
- The company will purchase up to 12,602,594 of its 127,949,651 issued and outstanding units
- The NCIB will run from February 24, 2022 to February 23, 2023
- Allied is a leading owner, manager and developer of urban workspaces in Canada’s major cities and network-dense urban data centres
- Allied Properties REIT (AP.UN) opened trading at C$43.39 per share
Allied Properties Real Estate Investment Trust (AP.UN) has received approval from the Toronto Stock Exchange for a normal course issuer bid.
The company will purchase up to 12,602,594 of its 127,949,651 issued and outstanding units as at February 10, 2022, representing approximately 10 per cent of its public float.
Allied intends to commence the NCIB on February 24, 2022 and expire on February 23, 2023. Daily repurchases will be limited to a maximum of 55,208 units, representing 25 per cent of the average daily trading volume of the Units on the TSX for the six months ended January 31, 2022. Repurchased units will either be cancelled or delivered to participants under Allied’s restricted unit plan or to employees pursuant to Allied’s employee programs.
Under its normal course issuer bid that commenced on February 24, 2021, Allied repurchased 60,912 units at an average price of $43.35.
The primary purpose of the NCIB is to purchase units to fulfil Allied’s commitments to employees under its restricted unit plan and other employee programs.
Allied is an owner, manager and developer of urban workspaces and data centres in Canada.
Allied Properties REIT (AP.UN) opened trading at C$43.39 per share.