By Adriano Marchese
First Capital Real Estate Investment Trust plans to renew its share repurchase program to buy back up to 10% of its issued shares over the course of one year.
The Canadian REIT said Friday that the Toronto Stock Exchange has approved its plan to buy back up to 21.2 million of its trust units by way of a normal course issuer bid.
First Capital's stock has slightly increased so far in the year, rising about 1.4% to close on Thursday at 17.20 Canadian dollars ($12.32).
At Thursday's closing price, the value of the shares intended to be bought back would be worth about C$363.3 million.
The company can begin buying back shares starting on May 21.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
May 16, 2025 07:07 ET (11:07 GMT)
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