Magna (MGA) International announced the termination of its existing Normal Course Issuer Bid effective since February 15 and the Toronto Stock Exchange has accepted its Notice of Intention to establish a new Normal Course Issuer Bid. Pursuant to the Notice, Magna may purchase up to 28.5M Magna Common Shares, representing approximately 10% of its public float. As at October 31, Magna had 287,342,204 issued and outstanding Common Shares, including a public float of 286,960,792 Common Shares.
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Read More on MGA:
- Magna price target lowered to $41 from $42 at RBC Capital
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