The Canadian space hardware subsystems manufacturer Com Dev has announced that it will launch a normal course issuer bid for share repurchase purposes in late January.
The bid will be made through the Toronto Stock Exchange (TSE). Com Dev will repurchase…
The Canadian space hardware subsystems manufacturer Com Dev has announced that it will launch a normal course issuer bid for share repurchase purposes in late January.
The bid will be made through the Toronto Stock Exchange (TSE). Com Dev will repurchase common shares representing up to 10% of its public float in the year between January 18, 2010 and January 17, 2011. It has made up to C$18m available to fund these repurchases. The exact amount of shares to be repurchased has yet to be determined by the company.
Com Dev is taking this course of action because it feels that its shares on the open market have not been trading at a price range that reflects their value. At the time of writing, Com Dev’s TSE share price is C$3.83.
