The Toronto Stock Exchange accepts Granite Real Estate Investment Trust (NYSE:GRP.U) (GRT.UN:CA) request to make a normal course issuer bid. The company proposes to purchase up to an aggregate of 6.35M units.
The units consists of one trust unit of Granite REIT and one common share of Granite G, being ~10% of Granite’s public float of stapled units as of May 12, 2023.
The company intends to enter into an automatic securities purchase plan with a broker as of the date on which the NCIB commences in order to facilitate repurchases of the stapled units under the NCIB during Granite’s scheduled blackout periods.
