Business
Magna Announces Renewal of Normal Course Issuer Bid
NCIB authorizes the discretionary repurchase of up to 25,300,000 Magna Common Shares, representin...
About this update from Magna International Inc.
[{"type":"text","content":"Magna Announces Renewal of Normal Course Issuer Bid\n\n\n\n\n NCIB authorizes the discretionary repurchase of up to 25,300,000 Magna Common Shares, representing approximately 10% of Magna’s public float.\n \n\n NCIB takes effect on November 7, 2025, and terminates no later than November 6, 2026.\n \n\n\n\n AURORA, Ontario, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) announces today the Toronto Stock Exchange’s (the \"TSX\") acceptance of its notice of intention to renew its normal course issuer bid (the \"Notice\"). Pursuant to the Notice, Magna may purchase up to 25,300,000 Magna Common Shares (the \"NCIB\"), representing approximately 10% of its public float. As at October 31, 2025, Magna had 281,814,257 issued and outstanding Common Shares, including a public float of 253,107,846 Common Shares.\n \n\n The primary purposes of the NCIB are to facilitate purchases for cancellation, as well as purchases to fund Magna’s stock-based compensation awards and programs. Magna may purchase its Common Shares for cancellation, from time to time, if it believes that the market price of its Common Shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of the Corporation. Magna may elect to modify, suspend or discontinue the NCIB, and purchases thereunder, at any time.\n \n\n The NCIB will commence on November 7, 2025, and will terminate no later than November 6, 2026. All purchases of Common Shares under the NCIB may be made on the TSX, at the market price at the time of purchase in accordance with the rules and policies of the TSX, or on the New York Stock Exchange (\"NYSE\") in compliance with Rule 10b-18 under the U.S.\n \n Securities Exchange Act of 1934\n \n . In addition to purchases made on the open market through the facilities of the TSX and NYSE, Magna may also make purchases through alternative trading systems in Canada and the United States, and by private agreement or under a specific share repurchase program pursuant to an issuer bid exemption order issued by a securities regulatory authority (a \"Specific Share Repurchase Program\"). Purchases made by way of such private agreements or a Specific Share Repurchase Program may be at a discount to the prevailing market price.\n \n\n The rules and policies of the T...