EQB (EQB.TO) has received approval from the Toronto Stock Exchange to renew its Normal Course Issuer Bid, allowing the company to repurchase shares over the next 12 months as part of its capital management strategy.
The renewed program will run from January 6, 2026, to January 5, 2027, or until completed. Under the bid, EQB may buy back up to 2.22 million common shares, equivalent to about 10% of its public float as of December 23, 2025. Daily purchases will generally be capped at 31,372 shares, subject to TSX block purchase exemptions. All shares acquired will be cancelled.
The company has also secured approval to establish an Automatic Securities Purchase Plan with its broker, enabling repurchases during blackout or restricted trading periods in accordance with preset parameters and securities regulations.
The board said the renewal reflects its view that the company's market valuation does not always reflect intrinsic value and that buybacks represent an efficient use of capital.
Under the prior NCIB, EQB repurchased about 1.42 million shares at an average price of roughly $94.37, for total consideration of about $134.5 million. As of December 23, 2025, the company had approximately 37.3 million shares outstanding, with a public float of about 22.2 million.
EQB.TO currently trades at $104.42 or 0.51% higher on the Toronto Stock Exchange.
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