on BlackBerry QNX (NASDAQ:BB)
BlackBerry Initiates Share Buyback Program
BlackBerry Limited has announced the receipt of approval from the Toronto Stock Exchange for a normal course issuer bid (NCIB) share buyback program. This initiative permits BlackBerry to repurchase up to 27,855,153 common shares, equating to approximately 4.7% of its public float as of May 5, 2025.
The company will execute the repurchase through various exchanges, including the TSX and NYSE, and potentially through private agreements. All shares bought back will be cancelled. At the time of announcement, BlackBerry had a public float consisting of 596,180,623 common shares with a daily trading volume of 2,884,777 shares on the TSX.
The NCIB is set to commence on May 12, 2025, and will run until May 11, 2026, unless concluded earlier. BlackBerry emphasizes its strategy to strengthen its balance sheet, considering share buybacks a sound investment decision.
R. H.
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