Business
RioCan Real Estate Investment Trust Announces Renewal of Normal Course Issuer Bid
RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) today announced that th...
About this update from Riocan Real Estate Investment Trust
[{"type":"text","content":"RioCan Real Estate Investment Trust Announces Renewal of Normal Course Issuer Bid\n\n\n\n\n\n\n RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) today announced that the Toronto Stock Exchange (“TSX) has approved its notice of intention to make a normal course issuer bid for a portion of its trust units (“Units”) as appropriate opportunities arise from time to time. RioCan's normal course issuer bid will be made in accordance with the requirements of the TSX.\n \n\n Pursuant to the notice, RioCan is authorized to acquire up to a maximum of 29,319,995 of its 294,519,013 outstanding Units, or approximately 10%\n \n\n of the public float of 293,199,954 Units as of October 31, 2025, over the next 12 months. Purchases under the normal course issuer bid will be made through the facilities of the TSX or through a Canadian alternative trading system and in accordance with applicable regulatory requirements at a price per Unit equal to the market at the time of acquisition. The number of Units that can be purchased pursuant to the bid is subject to a current daily maximum of 155,941 Units (which is equal to 25% of 623,766 Units, being the average daily trading volume on the TSX during the last six months), subject to RioCan’s ability to make one block purchase of Units per calendar week that exceeds such limits.\n \n\n Units purchased under the normal course issuer bid will be cancelled upon their purchase or may be used to satisfy RioCan’s obligation to deliver Units under RioCan’s Restricted Equity Unit Plan and/or Performance Equity Unit Plan. RioCan intends to fund the purchases out of its available cash and undrawn credit facilities. Under its previous normal course issuer bid, which expires on November 11, 2025, RioCan was authorized to acquire a total of 29,878,867 Units. RioCan purchased a total of 5,559,193 Units under its previous normal course issuer bid at a weighted average price of $17.99.\n \n\n RioCan may begin to purchase Units on November 12, 2025 and the bid will terminate on November 11, 2026 or such earlier time as RioCan completes its purchases pursuant to the bid or provides notice of termination. RioCan believes that the purchase of its Units may represent an investment opportunity for the Trust and an appropriate and desirable use of its funds bas...