The company High Liner Foods wants to start a programme to buy back up to 2.1% of its issued and outstanding shares over the course of a year.
Canada’s frozen seafood company said Wednesday that the Toronto Stock Exchange had agreed to its plan to use a normal course issuer bid to buy back up to 700,000 shares.
The price of the stock has gone up about 12% since the start of the year. It closed on Tuesday at $9.71(CDN) a share.
The shares that were meant to be bought back would be worth about C$9.3 million at that price.
Start date for the company to buy back shares is June 7.
