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- CIBC (NYSE:CM) intends to purchase for cancellation up to 20M shares under a normal course issuer bid, subject to the approval of the Toronto Stock Exchange.
- Common shares that may be purchased for cancellation represent ~2.1% of outstanding shares as at July 31, 2024.
- The normal course issuer bid will provide CIBC (CM) additional flexibility in managing its capital position and generate shareholder value.
- The bank also reported a ~13% topline surge in Q3 report.
