- Brookfield Business Corporation (BBUC) has announced a normal course issuer bid
- The corporation will repurchase up to 3,647,810 shares between August 17, 2022 and August 16, 2023
- Daily purchases will be limited to 13,916 shares
- All shares acquired under the normal course issuer bid will be cancelled
- Brookfield Business Partners is a global business services and industrials company
- Brookfield Business Corporation (BBUC) opened trading at C$35.64
Brookfield Business Corporation (BBUC) has announced a normal course issuer bid for its Class A exchangeable subordinate voting shares.
The Board of Directors of Brookfield Business Corporation has authorized the corporation to repurchase up to 3,647,810 shares, representing 5 per cent of the total issued and outstanding shares.
Daily purchases will be limited to 13,916 shares, which represents 25 per cent of the average daily trading volume of 55,666 shares on the TSX.
All shares acquired under the normal course issuer bid will be cancelled.
The bid will commence on August 17, 2022 and end on August 16, 2023.
All purchases under the normal course issuer bid will be made through the facilities of the TSX and the New York Stock Exchange or other designated exchanges and alternative trading systems in Canada and the United States.
Brookfield Business Corporation will enter into an automatic purchase plan. The automatic purchase plan will allow for the purchase of shares at times when Brookfield Business Corporation ordinarily would not be active in the market.
Brookfield Business Partners is a global business services and industrial company focused on owning and operating high-quality businesses that provide essential products and services.
Brookfield Business Corporation (BBUC) opened trading at C$35.64.