06:57 AM EST, 11/05/2025 (MT Newswires) -- Magna International ( MGA ) said it has received approval from Toronto Stock Exchange to renew its normal course issuer bid.

Under the NCIB, Magna may buy up to 25.3 million of its common shares, representing about 10% of its public float.

The NCIB allows Magna to purchase its common shares for cancellation from time to time depending on the market price.

The NCIB will start Nov. 7, 2025, and will terminate no later than Nov. 6, 2026.

Magna's current NCIB for the purchase of up to 28.5 million common shares will expire at the close of trading on Nov. 6. As at the close of trading on Oct. 31, Magna had purchased 5.8 million common shares under the current NCIB at weighted average prices of C$61.21 in Canada and US$43.45 in the U.S.

Of the repurchases, 5.7 million common shares were cancelled, and the rest funded Magna's stock-based compensation programs.