The latest announcement is out from Africa Oil ( (TSE:AOI) ).
Africa Oil Corp. has announced the results of its share buyback program, repurchasing a total of 882,000 common shares between February 24 and February 28, 2025. The repurchases were conducted on both the Toronto Stock Exchange and Nasdaq Stockholm. This initiative is part of a broader plan announced in December 2024, allowing for the repurchase of up to 18,362,364 shares over a twelve-month period. The cancellation of repurchased shares has resulted in a total of 433,296,117 common shares with voting rights as of February 28, 2025. This move is expected to impact the company’s market positioning by potentially increasing shareholder value and optimizing capital structure.
More about Africa Oil
Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria, an interest in the Venus light oil and associated gas discovery offshore Namibia, and an exploration/appraisal portfolio in the west and south of Africa. The company is listed on the Toronto Stock Exchange and Nasdaq Stockholm under the symbol ‘AOI’.
YTD Price Performance: -7.48%
Average Trading Volume: 125,588
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $580.8M
For a thorough assessment of AOI stock, go to TipRanks’ Stock Analysis page.