CI Financial (TSE:CIX) has released an update.
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CI Financial Corp. has announced the preliminary outcomes of its substantial issuer bid, with an expectation to acquire and cancel 5 million of its common shares at $15.50 each, totaling approximately $77.5 million. This buyback represents about 3.3% of the company’s issued and outstanding shares. Shareholders who tendered their shares will likely see a prorated purchase of around 20.38%, excluding odd lot holders who are prioritized.
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