- Brookfield Asset Management (BAM.A) has received approval from the TSX to renew its normal course issuer bid
- Brookfield may purchase up to 10 per cent of the public float of each series of the company’s outstanding Class A Preference Shares
- The period of the normal course issuer bid has been extended to August 19, 2022
- Brookfield Asset Management is a leading global alternative asset manager with over US$625 billion of assets under management
- Brookfield Asset Management Class A Limited Voting Shares (TSX:BAM.A) opened trading at C$71.24
Brookfield Asset Management (BAM.A) has received approval from the TSX to renew its normal course issuer bid.
Under the terms of the NCIB, Brookfield may purchase up to 10 per cent of the public float of each series of the company’s outstanding Class A Preference Shares that are listed on the TSX.
The period of the normal course issuer bid has been extended to August 19, 2022, or an earlier date should Brookfield complete its purchases. Brookfield will pay the market price at the time of acquisition for any preferred shares purchased. All preferred shares acquired by Brookfield under this bid will be cancelled.
Brookfield will enter into an automatic share purchase plan in relation to the normal course issuer bid. The automatic share purchase plan will allow for the purchase of preferred shares at times when Brookfield ordinarily would not be active in the market due to its own internal trading black-out period, insider trading rules or otherwise.
Brookfield Asset Management is a leading global alternative asset manager with over US$625 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit.
Brookfield Asset Management Class A Limited Voting Shares (TSX:BAM.A) opened trading at C$71.24.