The company expects to begin the buyback on Sept. 18. Based on Tuesday’s closing price of 31.00 Canadian dollars—equivalent to approximately 22.27 U.S. dollars—the total transaction value is estimated at 224.8 million Canadian dollars. This move follows a period of sustained growth for the firm, which operates critical liquids infrastructure across the region.
Gibson Energy Cleared for C$225 Million Share Buyback
With its stock climbing 23% since January, Gibson Energy has secured approval from the Toronto Stock Exchange to initiate a fresh share-repurchase program. The Calgary-based infrastructure firm plans to cancel up to 7.3 million common shares, representing 5% of its total outstanding equity, over the next twelve months.
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