Normal-Course Issuer Bid

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Normal-Course Issuer Bid

The act of a publicly-traded company buying its own shares in order to cancel them. By definition, this reduces the number of shares outstanding and therefore increases the earnings per share. This usually results in an increased market value per share. Therefore, a company making an NCIB usually does so in order to increase its market value. Regulations govern the number of shares a company is allowed to buy back in an NCIB. See also: Share buyback.
References in periodicals archive ?
Enerflex s previous normal course issuer bid expired on December 18, 2012.
The maximum number of common shares that Kingsway may purchase in one day pursuant to the normal course issuer bid is 65,734, or 25% of the ADTV, subject to a weekly "block purchase" exemption.
The purchase of and payment for the common shares of Antigua purchased pursuant to the normal course issuer bid will be made by Antigua in accordance with the policies and rules of the TSX-V and the price which Antigua will pay for any such common shares will be the market price of such common shares at the time of acquisition.
To the knowledge of Cott, none of the directors, senior officers or other insiders of Cott has any present intention to sell Common Shares during the course of the normal course issuer bid.
The price that Talisman will pay for any shares acquired under the normal course issuer bid will be the market price at the time of purchase or such other price as may be permitted by the Toronto Stock Exchange.
The normal course issuer bid is being established to mitigate the dilutive effect of stock options issued under the Corporation's stock option plan and for other capital management purposes.
The purpose of the normal course issuer bid is to provide the Fund with a mechanism to decrease the potential spread between the net asset value per Trust Unit and the market price of the Trust Units.
Purchases under the bid, to be made through the facilities of the TSX only in accordance with the TSX's requirements, may commence on February 27, 2006 and will terminate on February 26, 2007, or on such earlier date as Paladin may complete its purchases pursuant to the notice of intention to make a normal course issuer bid filed with the TSX.
In January 2005, ClubLink announced a similar normal course issuer bid with respect to the Common Shares.
Purchases made pursuant to the normal course issuer bid will be made in the open market through the facilities of the Toronto Stock Exchange.
National Bank of Canada today announced its intention to make a normal course issuer bid to buy back up to 5% of its issued and outstanding common shares.
UN) intends to renew its normal course issuer bid through the facilities of the Toronto Stock Exchange to purchase up to 593,600 units of the Fund representing approximately 10% of the public float of 5,936,686 units.