CGI (TSX:GIB.A) (NYSE:GIB) said Wednesday its board has authorized the renewal of its normal course issuer bid.
Under NCIB terms, subject to TSX approval, the company may purchase for cancellation on the open market through the facilities of the TSX and the NYSE up to 20,457,737 Class A shares, representing about 10% of the public float as of the close of business on January 23, 2024.
Repurchases under the renewed NCIB may commence on February 6, 2024, and will end approximately by February 5, 2025, or earlier.
As of January 23, 2024, there were 206,327,788 Class A shares outstanding, of which approximately 99.2% were widely held.