FirstService To Repurchase Up To 1.6 Mln Shares Under NCIB

(RTTNews) - FirstService Corp. (FSV, FSV.TO), a Canadian publicly traded real estate services company, on Tuesday announced that the Toronto Stock Exchange has accepted its notice of intention to launch a normal course issuer bid for its outstanding common shares.

The normal course issuer bid or NCIB will run from August 26 to no later than August 25, 2026, allowing the company to purchase up to 1.6 million shares, representing 3.9% of its public float as of August 12.

The daily purchase limit is 23,872 shares, based on an average daily trading volume of 95,488 shares between February 1 and July 31, except for block purchases. All repurchased shares will be cancelled.

Purchases may be made through the TSX, alternative Canadian Trading Systems, and the Nasdaq at prevailing market prices.

As of August 12, the company had 45,552,586 common shares outstanding.

On Monday, FirstService closed trading 0.08% lesser at $198.06 on the Nasdaq.