Colliers Announces Normal Course Issuer Bid
Colliers International Group (NASDAQ: CIGI) has announced a new normal course issuer bid (NCIB) program to repurchase up to 4.3 million subordinate voting shares, representing approximately 10% of the public float. The buyback will run from May 9, 2025 to May 8, 2026 through TSX, alternative Canadian Trading Systems, and Nasdaq.
The company will pay market price for the shares at the time of acquisition, with daily purchases limited to 13,777 shares (excluding block purchases). BMO Nesbitt Burns has been appointed as the designated broker, and Colliers has established an automatic share purchase plan (ASPP) to facilitate purchases during blackout periods.
Colliers, with $5.0 billion in annual revenues and $100 billion in assets under management, operates through three platforms: AG真人官方 Estate Services, Engineering, and Investment Management.
Colliers International Group (NASDAQ: CIGI) ha annunciato un nuovo programma di riacquisto di azioni ordinarie (NCIB) per riacquistare fino a 4,3 milioni di azioni subordinate con diritto di voto, pari a circa il 10% del flottante pubblico. Il riacquisto si svolger脿 dal 9 maggio 2025 all'8 maggio 2026 attraverso TSX, sistemi alternativi di negoziazione canadesi e Nasdaq.
L'azienda pagher脿 il prezzo di mercato delle azioni al momento dell'acquisizione, con un limite giornaliero di acquisto pari a 13.777 azioni (esclusi gli acquisti a blocchi). BMO Nesbitt Burns 猫 stato nominato broker designato e Colliers ha istituito un piano automatico di acquisto azionario (ASPP) per facilitare gli acquisti durante i periodi di blackout.
Colliers, con 5,0 miliardi di dollari di ricavi annui e 100 miliardi di dollari di asset under management, opera attraverso tre piattaforme: Servizi Immobiliari, Ingegneria e Gestione degli Investimenti.
Colliers International Group (NASDAQ: CIGI) ha anunciado un nuevo programa normal de recompra de acciones (NCIB) para recomprar hasta 4,3 millones de acciones subordinadas con derecho a voto, que representan aproximadamente el 10% del flotante p煤blico. La recompra se llevar谩 a cabo desde el 9 de mayo de 2025 hasta el 8 de mayo de 2026 a trav茅s de TSX, sistemas alternativos de negociaci贸n canadienses y Nasdaq.
La empresa pagar谩 el precio de mercado por las acciones en el momento de la adquisici贸n, con un l铆mite diario de compra de 13,777 acciones (excluyendo compras en bloque). BMO Nesbitt Burns ha sido designado como corredor designado y Colliers ha establecido un plan autom谩tico de compra de acciones (ASPP) para facilitar las compras durante los per铆odos de blackout.
Colliers, con 5.000 millones de d贸lares en ingresos anuales y 100.000 millones de d贸lares en activos bajo gesti贸n, opera a trav茅s de tres plataformas: Servicios Inmobiliarios, Ingenier铆a y Gesti贸n de Inversiones.
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Colliers International Group (NASDAQ : CIGI) a annonc茅 un nouveau programme normal de rachat d'actions (NCIB) visant 脿 racheter jusqu'脿 4,3 millions d'actions subordonn茅es avec droit de vote, repr茅sentant environ 10 % du flottant public. Le rachat s'茅tendra du 9 mai 2025 au 8 mai 2026 via la TSX, les syst猫mes alternatifs de n茅gociation canadiens et le Nasdaq.
La soci茅t茅 paiera le prix du march茅 pour les actions au moment de l'acquisition, avec un achat quotidien limit茅 脿 13 777 actions (hors achats en bloc). BMO Nesbitt Burns a 茅t茅 d茅sign茅 comme courtier attitr茅, et Colliers a mis en place un plan automatique d'achat d'actions (ASPP) pour faciliter les achats durant les p茅riodes de blackout.
Colliers, avec 5,0 milliards de dollars de revenus annuels et 100 milliards de dollars d'actifs sous gestion, op猫re 脿 travers trois plateformes : Services Immobiliers, Ing茅nierie et Gestion d'Investissements.
Die Colliers International Group (NASDAQ: CIGI) hat ein neues regul盲res Aktienr眉ckkaufprogramm (NCIB) angek眉ndigt, um bis zu 4,3 Millionen nachrangige stimmberechtigte Aktien zur眉ckzukaufen, was etwa 10 % des 枚ffentlichen Streubesitzes entspricht. Der R眉ckkauf l盲uft vom 9. Mai 2025 bis zum 8. Mai 2026 眉ber die TSX, alternative kanadische Handelssysteme und Nasdaq.
Das Unternehmen zahlt den Marktpreis f眉r die Aktien zum Zeitpunkt des Erwerbs, wobei t盲gliche K盲ufe auf 13.777 Aktien begrenzt sind (ohne Blockk盲ufe). BMO Nesbitt Burns wurde als designierter Broker ernannt, und Colliers hat einen automatischen Aktienkaufplan (ASPP) eingerichtet, um K盲ufe w盲hrend der Sperrfristen zu erleichtern.
Colliers, mit 5,0 Milliarden US-Dollar Jahresumsatz und 100 Milliarden US-Dollar verwaltetem Verm枚gen, operiert 眉ber drei Plattformen: Immobilienservices, Ingenieurwesen und Investmentmanagement.
- Authorization to repurchase up to 4.3 million shares, representing 10% of public float
- Implementation of ASPP allowing share purchases during blackout periods
- Strong financial position with $5.0 billion in annual revenues
- Track record of 20% compound annual returns for shareholders
- Previous NCIB program expired without any shares being purchased
- Purchase program is subject to market conditions and management discretion
Insights
Colliers authorized repurchase of up to 10% of public float over next year, but didn't use previous authorization, suggesting conditional implementation based on market conditions.
Colliers has announced a normal course issuer bid (NCIB) that allows for the repurchase of up to 4.3 million subordinate voting shares, representing approximately
The company has explicitly stated it will only repurchase shares "if it believes that the market price of its Subordinate Voting Shares is attractive and that the purchase would be an appropriate use of corporate funds." This conditional language indicates a strategic approach rather than a firm commitment to repurchases.
A critical contextual element is that Colliers' previous NCIB, which authorized purchases of up to 4 million shares, expired without the company repurchasing any shares. This history suggests that while the authorization exists, actual implementation depends on management's assessment of share value and capital allocation priorities.
The establishment of an automatic share purchase plan (ASPP) with BMO Nesbitt Burns indicates preparation for potential purchases even during blackout periods, showing some operational readiness to execute if conditions are deemed favorable.
For shareholders, this announcement primarily represents optionality. If executed, share repurchases would reduce the number of outstanding shares (all repurchased shares will be cancelled according to the release), potentially supporting share price and increasing earnings per share. However, given the previous non-execution, shareholders should view this as an option rather than a guarantee.
The current share structure consists of 49,297,832 subordinate voting shares and 1,325,694 multiple voting shares. This repurchase authorization, if fully utilized, would represent a significant reduction in the subordinate voting share count.
TORONTO, May 07, 2025 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) (鈥淐olliers鈥�) announced today that the Toronto Stock Exchange (the 鈥淭SX鈥�) has accepted a notice of its intention to make a normal course issuer bid (the 鈥淣CIB鈥�) with respect to its outstanding subordinate voting shares (the 鈥淪ubordinate Voting Shares鈥�).
The notice provides that Colliers may, during the twelve month period commencing May 9, 2025 and ending no later than May 8, 2026, purchase through the facilities of the TSX, alternative Canadian Trading Systems or The NASDAQ Stock Market (鈥淣asdaq鈥�) up to 4,300,000 Subordinate Voting Shares in total, being approximately
As of May 7, 2025, there were 49,297,832 Subordinate Voting Shares and 1,325,694 multiple voting shares outstanding.
Colliers may purchase its Subordinate Voting Shares, from time to time, if it believes that the market price of its Subordinate Voting Shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of Colliers.
Colliers鈥� previous NCIB authorized the purchase of up to 4,000,000 Subordinate Voting Shares and expired on July 19, 2024. Colliers did not purchase any Subordinate Voting Shares pursuant to this previous NCIB.
BMO Nesbitt Burns Inc. (鈥淏MO鈥�) has been appointed to act as Colliers鈥� designated broker to make purchases of Subordinate Voting Shares pursuant to the NCIB. Colliers has also entered into an automatic share purchase plan (鈥淎SPP鈥�) with BMO allowing it to purchase common shares under the NCIB when Colliers would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed black-out periods. Before entering a black-out period, Colliers may, but is not required to, instruct BMO to make purchases under the NCIB during such a period based on parameters set by Colliers in accordance with the ASPP, TSX rules and applicable securities laws. All purchases made under the ASPP are included in computing the number of Subordinate Voting Shares purchased under the NCIB. The ASPP has been pre-cleared by the TSX and will be implemented and effective May 9, 2025.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a global diversified professional services and investment management company. Operating through three industry-leading platforms 鈥� AG真人官方 Estate Services, Engineering, and Investment Management 鈥� we have a proven business model, an enterprising culture, and a unique partnership philosophy that drives growth and value creation. For 30 years, Colliers has consistently delivered approximately
Forward-looking Statements
This press release includes forward-looking statements. Forward-looking statements include the Company鈥檚 financial performance outlook and statements regarding goals, beliefs, strategies, objectives, plans or current expectations. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results, performance or achievements contemplated in the forward-looking statements. Such factors include: economic conditions, especially as they relate to commercial and consumer credit conditions and consumer spending, particularly in regions where our business may be concentrated; commercial real estate property values, vacancy rates and general conditions of financial liquidity for real estate transactions; trends in pricing and risk assumption for commercial real estate services; the effect of significant movements in average capitalization rates across different property types; a reduction by companies in their reliance on outsourcing for their commercial real estate needs, which would affect revenues and operating performance; competition in the markets served by the Company; the ability to attract new clients and to retain major clients and renew related contracts; the ability to retain and incentivize producers; increases in wage and benefit costs; the effects of changes in interest rates on the cost of borrowing; unexpected increases in operating costs, such as insurance, workers鈥� compensation and health care; changes in the frequency or severity of insurance incidents relative to historical experience; the effects of changes in foreign exchange rates in relation to the US dollar on the Company鈥檚 Canadian dollar, Euro, Australian dollar and UK pound sterling denominated revenues and expenses; the impact of pandemics on client demand for the Company鈥檚 services, the ability of the Company to deliver its services and the health and productivity of its employees; the impact of global climate change; the impact of political events including elections, referenda, trade policy changes, immigration policy changes, hostilities and terrorism on the Company鈥檚 operations; the ability to identify and make acquisitions at reasonable prices and successfully integrate acquired operations; the ability to execute on, and adapt to, information technology strategies and trends; the ability to comply with laws and regulations related to our global operations, including real estate and mortgage banking licensure, labour and employment laws and regulations, as well as the anti-corruption laws and trade sanctions; and changes in government laws and policies at the federal, state/provincial or local level that may adversely impact the business.
Additional information and risk factors are identified in the Company鈥檚 other periodic filings with Canadian and US securities regulators (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Forward looking statements contained in this press release are made as of the date hereof and are subject to change. All forward-looking statements in this press release are qualified by these cautionary statements. Except as required by applicable law, Colliers undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
COMPANY CONTACTS:
Christian Mayer
CFO
(416) 960-9500
