By Adriano Marchese
Neo Performance Materials intends to launch a share repurchase program to buy back up to 10% of its shares over the course of a one year period.
The Canadian advanced industrial materials company said Friday that the Toronto Stock Exchange has approved its plan to buy back up to 3.3 million shares for cancellation by way of a normal course issuer bid.
Shares are higher so far in 2025, rising by over 28% since the start of the year to close on Thursday at 10.25 Canadian dollars ($7.50). The stock has risen 52% in the last 12 months.
At Thursday's closing price, the value of the shares intended for buyback would be worth C$33.8 million.
Neo Performance can begin buying back the shares starting on June 11.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 06, 2025 07:12 ET (11:12 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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