By Robb M. Stewart
Colliers International received Toronto Stock Exchange approval for a buyback program for up to roughly 10% of its public float of shares.
The Canadian professional services and investment management company said the exchange approved its plans for a normal course issuer bid that would allow it to buy up to 4.3 million subordinate voting shares over a 12-month period from Friday.
Colliers made no purchases under a previous buyback program which expired last July that authorized it to repurchase up to 4 million shares.
The company's shares have fallen 17% so far in 2025, last closing at C$163.22 ($118.48).
Earlier this week, Colliers reported a net loss of $4.3 million, or 8 cents a share, for the first quarter, compared with year-earlier earnings of $12.7 million, or 26 cents. However, revenue rose to $1.14 billion from $1 billion last year.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
May 07, 2025 07:57 ET (11:57 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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