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CIBC Announces Intention to Repurchase up to 20 Million Common Shares
CIBC Announces Intention to Repurchase up to 20 Million Common Shares Canada NewsWire ...
About this update from Canadian Imperial Bank Of Commerce
[{"type":"text","content":"\n\n\n\n CIBC Announces Intention to Repurchase up to 20 Million Common Shares\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TORONTO\n \n\n ,\n \n\n Aug. 28, 2025\n \n\n /CNW/ -\n \n CIBC\n \n (TSX: CM) (NYSE: CM) today announced its intention to purchase for cancellation up to 20 million common shares under a normal course issuer bid, subject to the approval of the Toronto Stock Exchange (TSX). Common shares that may be purchased for cancellation represent approximately 2.2% of outstanding common shares as at\n \n July 31, 2025\n \n .\n \n\n\n\n\n\n\n\n\n CIBC will file a notice of intention to make a normal course issuer bid with the TSX and this bid would commence following TSX's acceptance of this notice and continue for up to one year.\n \n\n The normal course issuer bid will provide CIBC additional flexibility in managing its capital position and generate shareholder value.\n \n\n Purchases would be made through the facilities of the TSX, alternative Canadian trading systems or the NYSE, in accordance with applicable regulatory requirements. CIBC may periodically establish an automatic program under which its broker, CIBC Capital Markets, would repurchase CIBC shares pursuant to the bid within a defined set of criteria determined by CIBC. The price paid for the common shares will be the market price at the time of the purchase.\n \n\n CIBC's previous normal course issuer bid for the purchase of up to 20 million common shares commenced on\n \n September 10, 2024\n \n and terminated on\n \n July 31, 2025\n \n , upon completion of the repurchase and cancellation of the full 20 million common shares at an average price of\n \n $87.79\n \n per share for a total amount of\n \n $1.8 billion\n \n .\n \n\n A NOTE ABOUT FORWARD-LOOKING STATEMENTS: From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this press release report, in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission and in other communications. The...