Brookfield Infrastructure Partners (BIP.UN, BIP) late on Wednesday said it renewed its normal course issuer bid for its outstanding limited partnership units (LP units) and its cumulative class A preferred LP units.
Brookfield Infrastructure Corp. is also renewing its normal course issuer bid for outstanding class A exchangeable subordinate voting shares.
BIP has been authorized to repurchase up to 5% of the issued and outstanding LP units, or up to 23.1 million units. At the close of business Nov. 19, there were 461.8 million LP units outstanding. BIP may also repurchase up to 126,133 LP units on the TSX during any trading day.
BIP is also authorized to repurchase up to 10% of the total public float of each of four series of preferred units outstanding and trading on the TSX.
BIPC may repurchase up to 10% of the total public float of exchangeable shares, or up to 11.9 million exchangeable shares. At the close of business on Nov. 19, there were about 132 million exchangeable shares issued and outstanding and 118.9 million exchangeable shares in the public float.
BIPC may also repurchase up to 46,896 exchangeable shares on the TSX during any trading day.
Repurchases will commence Dec. 2 and can continue until Dec. 1, 2025.
BIP rose 1.5% to $35.35 on Wednesday in Canadian trading.
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