Medical Facilities Corp. said Monday that it intends to acquire up to 5% of its common shares at market price.
The Canadian owner of surgical facilities in the U.S. said it intends to make a normal course issuer bid, or NCIB, for up to 1.6 million of its outstanding common shares.
The company said that it will make purchases of it shares between Dec. 1, 2021, and Nov. 30, 2022, at prevailing market prices.
At Friday’s closing price of 7.75 Canadian dollars, roughly US$6.06, the value of the shares would be worth around C$12.1 million.