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Brookfield Renews Normal Course Issuer Bid

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Brookfield (BN.TO, BN) received approval from the Toronto Stock Exchange (TSX) for the renewal of its normal course issuer bid, to buy-back up to 191-million Class A limited voting shares, about 10% of the public float of Brookfield's outstanding Class A shares, it said on Monday.

Purchases under the bid will be made on the open market through the facilities of the TSX, the New York Stock Exchange (NYSE), and/or alternative trading systems. The period of the normal course issuer bid will extend from May 27, 2026, to May 26, 2027, or an earlier date should Brookfield complete its purchases, it said.

Brookfield will pay the market price at the time of acquisition for any Class A shares purchased or such other price as may be permitted. As at May 15, the number of Class A shares issued and outstanding totaled 2.45-billion of which 1.91-billion shares represented the public float, it added.

The company intends to enter into an automatic share purchase plan on or about the week of June 15, in relation to the bid.

Shares of the company closed up 0.2% to $62.71 on Friday on the TSX.

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