- West Fraser Timber (WFG) has purchased a total of 10,309,278 common shares for cancellation at a price of C$97.00 per share for an aggregate purchase price of $1.0 billion
- The shares purchased represent approximately 8.7% of West Fraser’s issued and outstanding shares and Class B shares
- Payment for the shares accepted for purchase under the SIB will be made on or about August 23, 2021
- West Fraser is a diversified softwood lumber company
- West Fraser Timber Co. Ltd. (WFG) opened trading at C$87.91 per share.
West Fraser Timber (WFG) has purchased a total of 10,309,278 common shares for cancellation at a price of C$97.00 per share.
The shares purchased represent approximately 8.7% of West Fraser’s issued and outstanding shares and Class B shares at the time the SIB was announced.
Following the SIB, West Fraser will have 106,134,898 shares and 2,281,478 Class B shares issued and outstanding. No Class B shares were purchased under the SIB.
Since the SIB was oversubscribed, shareholders who made auction tenders at a price of C$97.00 or less per share and purchase price tenders had approximately 91 per cent of their successfully tendered shares purchased by West Fraser. Any shares not purchased will be returned to shareholders.
Payment for the shares accepted for purchase under the SIB will be made on or about August 23, 2021. The company expects to be eligible to recommence purchases under its normal course issuer bid after all shares accepted for purchase under the SIB have been taken up.
West Fraser is a diversified softwood lumber company with more than 60 facilities in Canada, the United States, the United Kingdom, and Europe.
West Fraser Timber Co. Ltd. (WFG) opened trading at C$87.91 per share.