Brookfield Asset Management Ltd. (BAM), a leading alternative asset manager, has announced the renewal of its normal course issuer bid, allowing for the repurchase of up to 37.13 million Class A Limited Voting Shares. Alongside this, the company has implemented an automatic purchase plan.
The authorized 37,123,295 Class A Limited Voting Shares represent approximately 10% of the company's total public float of Class A Shares. This course issuer bid is scheduled from January 13, 2025, to January 12, 2026, unless earlier completion occurs.
From its previous normal course issuer bid, which commenced on January 11, 2024, and is set to conclude on January 10, 2025, Brookfield Asset Management has yet to purchase any of the approved 34.61 million Class A Shares as of January 6, 2025. The automatic purchase plan facilitates the acquisition of Class A Shares during the normal course issuer bid timeframe.
In pre-market trading, BAM's shares rose by 0.52% to $56 on the New York Stock Exchange.
