CGI Announces Intent To Repurchase 3.34M Of Its Shares Held By CDPQ

Author: Benzinga Newsdesk | February 27, 2023 08:34am

CGI (TSX:GIB) (NYSE:GIB) announced today that it intends to enter into a private agreement with CDPQ for the purchase for cancellation of 3,344,996 of its Class A subordinate voting shares ("Class A Shares") held by CDPQ for a price of $119.58 per Class A Share, which represents a discount to the closing price on February 24, 2023 of the Class A Shares on the Toronto Stock Exchange ("TSX").

The transaction will be made in connection with the periodic portfolio rebalancing of CDPQ. Once completed, CDPQ will continue to hold approximately 19.18 million Class A Shares, representing approximately 8.16% of CGI's total outstanding shares.

Posted In: GIB TSX:GIB