Kbro Linen announces a normal course issuer bid for 1.23 million shares, representing about 5% of its outstanding stock.
Kbro Linen Inc. (KBRLF) will repurchase up to 1,229,584 common shares over the next 12 months, beginning May 12. The move follows Toronto Stock Exchange approval of its normal course issuer bid.
The buyback represents approximately 5% of the company’s outstanding shares. Kbro Linen did not disclose the purpose of the repurchase but noted it aligns with its capital allocation strategy.
Shares of KBRLF were last unchanged in thin trading following the announcement.