01:06 PM EDT, 04/08/2025 (MT Newswires) -- (Updates shares and adds comment.)

SECURE Waste Infrastructure ( SECYF ) on Tuesday said it intends to launch a substantial issuer bid to buy back up to $200 million of its shares when the offer begins on April 9.

The offer will be for about 7.22% of the company's outstanding shares if the purchase price is determined to be $12.00 and about 5.97% of the total number of issued and outstanding shares if the purchase price is determined to be $14.50.

SECURE expects to fund the issuer bid from drawdowns on SECURE's existing revolving credit facility and available cash on hand, if any.

National Bank of Canada believes the $200 million SIB is "incremental" to the bank's current buyback assumption of SES repurchasing about 19.4-million shares allowable under its current NCIB through the end of 2025 at $15.00/share (about $290 million). Analyst Patrick Kenny maintained the bank's $18 target price and outperform rating on shares of SES.

The company's shares were last seen up $0.06 to $12.69 on the Toronto Stock Exchange.

Price: 12.71, Change: +0.08, Percent Change: +0.63