Exco Technologies Up 3.2% to a 52-Week High as it Readies a Share Buyback Program
02:18 PM EST, 02/05/2021 (MT Newswires) -- Exco Technologies (XTC.TO) was up more than 3% to a 12-month high after the company on Friday said it received exchange approval to buy back and cancel up to 1.96 million shares over the next year through a normal-course issuer bid.
The automotive-equipment and die manufacturer said the allowed amount of the buyback program represents 9.5% of its public share float. The buybacks can begin on Feb.18.
Exco shares were last seen up C$0.34 to C$11.06 on the Toronto Stock Exchange, topping the prior 52-week high of C$10.85.
Price: 11.05, Change: +0.33, Percent Change: +3.08