07:37 AM EDT, 04/05/2024 (MT Newswires) -- CI Financial Corp. ( CIXXF ) , which slipped 1.1% in Canada yesterday, on Friday reported the final results of its substantial issuer bid. Under the bid, the company bought for cancellation about 4.9 million of its common shares at the purchase price of $17.50 per share for about $85 million.

Shares purchased under the offer represent about 3.11% of the issued and outstanding shares at the time that the offer was launched. Immediately following the completion of the offer, there are about 151.4 million shares issued and outstanding.

Based on the final count by Computershare Investor Services Inc., the depositary for the offer, roughly 12.6 million shares were properly tendered and not withdrawn.

As the offer was oversubscribed, shareholders will have about 38.17% of their tendered shares purchased by the company. Any shares not taken up by the company will be returned by the depositary to shareholders.