08:28 AM EST, 03/07/2025 (MT Newswires) -- Primaris Real Estate Investment Trust (PMZ-UN.TO) said Friday that the TSX accepted its plan to renew its normal course issuer bid (NCIB).

Under the NCIB, Primaris can purchase for cancellation up to 7,567,092 of its series A units, representing 10% of the company's public float.

The NCIB will commence March 11 and remain in effect until March 10, 2026, or earlier.

Primaris said it continues to believe that the market price of the units may not reflect the true value of the units, and using the NCIB to return capital to its unitholders is a desirable use of funds.

Primaris has ownership interests in leading shopping centers in Canada, with its portfolio of 15.0 million square feet valued at about $4.6 billion at Primaris' share.