07:34 AM EDT, 07/10/2024 (MT Newswires) -- CI Financial ( CIXXF ) reported Wednesday the final result of its substantial issuer bid for 5 million shares at $15.50 apiece or about $77.5 million in total.

The company said about 23.4 million shares were properly tendered and not withdrawn. As the offer was oversubscribed, shareholders will have about 21% of their successfully tendered shares purchased by the corporation.

The offer represents about 3.3% of CI Financial's ( CIXXF ) issued and outstanding shares at the time that the offer was commenced. Following completion, the company said there are about 146.4 million shares issued and outstanding.

The company's share price closed 0.6% higher yesterday to $15.04 on the TSX.