Sangoma Technologies (SANG) said Tuesday that it is launching a normal course issuer bid for its common shares following completion of a plan to reduce its debt.
The company said it is authorized to buy back up to approximately 1.7 million shares, or about 5% of its 33.6 million shares outstanding over a 12-month period beginning March 27.
The timing and amount of repurchases will depend on factors such as valuation, liquidity, and potential acquisitions, the company said.
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