Manulife Financial (HKG:0945, PSE:MFC) plans to buy back up to 42 million of its shares from the open market, according to a Hong Kong bourse filing Thursday.
The shares represent 2.5% of the insurer's issued share capital.
The firm said it had secured Canadian regulatory approval for the normal course issuer bid, and would begin buying shares for a one-year period after the Toronto Stock Exchange accepts its notice of intention.
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