(RTTNews) - Silvercorp Metals Inc. (SVM), on Wednesday, announced the commencement of a normal course issuer bid on September 19, to repurchase up to 8,747,245 common shares, representing about 4% of its 218,681,127 issued and outstanding shares as of September 5.
The program will run until September 18, 2026.
Purchases will be made at prevailing market prices on the TSX, NYSE American, and alternative trading systems in Canada and the U.S., with all repurchased shares to be cancelled.
The new program follows the 2024 NCIB, under which the company was authorized to repurchase up to 8,670,700 shares. During that period, the company repurchased and cancelled 300,000 shares at a weighted average price of C$4.51.
In the pre-market trading, Silvercorp Metals is 1.85% lesser at $5.05 on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
