Toronto Stock Exchange Accepts CIBC's Notice of Intention to Make Normal Course Issuer Bid

CIBC Bank (New York Stock Exchange: CM) (TSX:CM:CA) announced Friday that the Toronto Stock Exchange has accepted its notice of intention to commence a normal course issuer bid for up to 20 million shares.
CM shares were trading -1.22% pre-marketing.
The bank should purchase for cancellation from from time to time up to ~2.1% of its 944.97 million shares issued and outstanding as of August 31.
The average daily trading volume for the six months ended August 31 was 3.98 million and the maximum number of shares that can be purchased each day is 994.93 thousand shares.
Purchases are expected to begin from September 10.
CIBC’s previous normal course issuer bid expired on December 12, 2022.
The bank purchased 1.8 million shares for cancellation at an average price of $74.43 per share.
Source: Press release

Toronto Stock Exchange Accepts CIBC’s Notice of Intention to Make Normal Course Issuer Bid