Shaw gets OK for buyback

Cabler intends to acquire, cancel non-voting shares

TORONTO — Shaw Communications has received approval from the Toronto Stock Exchange to buy back up to 10% of its public float of non-voting shares over the next year.

The Calgary-based cabler intends to acquire and cancel as many as 5.8 million Class B Non-Voting shares between Thursday and Jan. 12 of next year. “It’s because they believe the market price is cheap,” said Ben Dube, analyst with Canaccord Capital in Montreal. Buying and canceling the stock reduces the number of shares outstanding and increases their value, hopefully also improving their share price.

More Biz

  • Johnny Depp

    Johnny Depp Settles Feud With Former Managers

    TORONTO — Shaw Communications has received approval from the Toronto Stock Exchange to buy back up to 10% of its public float of non-voting shares over the next year. The Calgary-based cabler intends to acquire and cancel as many as 5.8 million Class B Non-Voting shares between Thursday and Jan. 12 of next year. “It’s […]

  • Lantern Capitol

    Weinstein Co. Closes $289 Million Sale to Lantern Capital

    TORONTO — Shaw Communications has received approval from the Toronto Stock Exchange to buy back up to 10% of its public float of non-voting shares over the next year. The Calgary-based cabler intends to acquire and cancel as many as 5.8 million Class B Non-Voting shares between Thursday and Jan. 12 of next year. “It’s […]

  • STX Targeting August IPO in Hong

    STX Targeting August IPO in Hong Kong (Report)

    TORONTO — Shaw Communications has received approval from the Toronto Stock Exchange to buy back up to 10% of its public float of non-voting shares over the next year. The Calgary-based cabler intends to acquire and cancel as many as 5.8 million Class B Non-Voting shares between Thursday and Jan. 12 of next year. “It’s […]

  • EXCLUSIVE: AR for US, UK and

    Pussy Riot Claims Responsibility for People Running Onto Field During World Cup

    TORONTO — Shaw Communications has received approval from the Toronto Stock Exchange to buy back up to 10% of its public float of non-voting shares over the next year. The Calgary-based cabler intends to acquire and cancel as many as 5.8 million Class B Non-Voting shares between Thursday and Jan. 12 of next year. “It’s […]

  • Former Billboard CEO Accused of Sexual

    Former Billboard CEO John Amato Accused of Sexual Harassment and Other Misconduct

    TORONTO — Shaw Communications has received approval from the Toronto Stock Exchange to buy back up to 10% of its public float of non-voting shares over the next year. The Calgary-based cabler intends to acquire and cancel as many as 5.8 million Class B Non-Voting shares between Thursday and Jan. 12 of next year. “It’s […]

More From Our Brands

Access exclusive content