- Onex Corporation (ONEX) has received approval from the TSX to renew its normal course issuer bid
- Onex intends to purchase for cancellation up to 7,167,381 subordinate voting shares
- Onex may purchase up to 35,172 subordinate voting shares during any trading day
- The NCIB will commence on April 18, 2022, and end on April 17, 2023
- Onex manages and invests capital on behalf of its shareholders, institutional investors and high net worth clients
- ONEX Corporation is up 0.30 per cent, trading at C$81.27 per share at 2 pm ET
Onex Corporation (ONEX) has received approval from the TSX to renew its normal course issuer bid (NCIB).
Onex intends to purchase for cancellation up to 7,167,381 subordinate voting shares.
Onex may purchase up to a maximum of 35,172 subordinate voting shares during any trading day.
A total of 3,682,783 shares were purchased under the 2021 bid as of March 31, 2022, at an average purchase price of C$89.77 per share.
The NCIB is being renewed because Onex believes that it is advantageous to the company and its shareholders to continue to repurchase subordinate voting shares when they are trading at prices that result in an attractive risk-adjusted return.
The Normal Course Issuer Bid will commence on April 18, 2022, and will conclude on April 17, 2023.
Onex manages and invests capital on behalf of its shareholders, institutional investors and high net worth clients from around the world.
Onex has approximately $49 billion of assets under management, of which approximately $8.2 billion is its own investing capital.
ONEX Corporation is up 0.30 per cent, trading at C$81.27 per share at 2 pm ET.