Magna International (TSE:MG) has released an update.
Magna International has announced a new Normal Course Issuer Bid allowing the company to repurchase up to 10% of its public float, or 28.5 million shares, by November 2025. This move, approved by the Toronto Stock Exchange, aims to purchase shares for cancellation and support stock-based compensation programs, reflecting Magna’s strategy to leverage market conditions favorably. The plan includes a structured automatic share purchase plan to facilitate acquisitions even during regulatory blackout periods.
For further insights into TSE:MG stock, check out TipRanks’ Stock Analysis page.