- Algoma Steel Group (ASTL) has announced plans to launch a normal course issuer bid
- The company may acquire a maximum of 7,397,889 of its shares between March 3, 2022 and March 2, 2023
- The company may purchase a maximum of 16,586 shares per day
- Algoma Steel is a fully integrated steel producer based in Sault Ste. Marie, Ontario
- Algoma Steel Group Inc. (ASTL) opened trading at C$11.93 per share
Algoma Steel Group (ASTL) has announced plans to launch a normal course issuer bid.
The company may acquire a maximum of 7,397,889 of its shares representing approximately 5 per cent of its issued and outstanding common shares.
On any given day during the NCIB, the corporation may purchase up to 16,586 shares.
Purchases under the NCIB will commence on March 3, 2022, and end on March 2, 2023, or when the corporation has purchased the maximum number of shares allowed under the NCIB.
In connection with the NCIB, the company has entered into an automatic repurchase plan with its designated broker. All common shares acquired will be cancelled.
Algoma Steel is a fully integrated steel producer based in Sault Ste. Marie, Ontario.
Algoma Steel Group Inc. (ASTL) opened trading at C$11.93 per share.
