- Altus Group Limited (AIF) is renewing its normal course issuer bid (NCIB)
- Between February 8, 2023, and February 7, 2024, Altus may purchase for cancellation up to 1,364,718 common shares
- Daily purchases will be limited to 17,933 common shares
- Altus Group provides asset and fund intelligence for commercial real estate
- Altus Group Limited (AIF) opened trading at C$57.63
Altus Group Limited (AIF) is renewing its normal course issuer bid (NCIB).
From February 8, 2023, to February 7, 2024, Altus may purchase up to 1,364,718 of its common shares.
Daily purchases will be limited to 17,933 common shares, representing 25 per cent of the average daily trading volume, other than block purchase exemptions.
Any shares acquired by Altus will be cancelled. Purchases under the bid will be funded from existing cash.
Under its previous NCIB, which expires on February 7, 2023, Altus had purchased a total of 155,400 common shares for cancellation at an average price of approximately $48.54 per common share.
The company intends to enter into an automatic share purchase plan with a designated broker.
The company believes that bids provide flexibility around its capital allocation investments, particularly during periods when its common shares may trade in a price range that does not adequately reflect their underlying value based on the company’s business and strong financial position. Altus believes that an investment in its outstanding common shares may represent an attractive use of available funds while continuing to balance other growth investments, including investing in operations and in potential M&A.
Altus Group provides asset and fund intelligence for commercial real estate. Trusted by the largest CRE leaders, Altus helps commercial real estate investors, developers, proprietors, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto.
Altus Group Limited (AIF) opened trading at C$57.63.