(RTTNews) – Silvercorp Metals Inc. (SVM), a silver mining company, on Thursday announced a normal course issuer bid to repurchase up to 8,848,585 common shares, representing approximately 4% of its outstanding shares.
The repurchase program will commence on September 21 and expire on September 20, 2027.
The company will make purchases at prevailing market prices through the TSX, NYSE American and alternative trading systems in Canada and the U.S.
The company said the program provides flexibility to repurchase shares if market conditions result in the shares being undervalued relative to its mining and corporate assets.
The company did not repurchase any shares under its previous program, which expires on September 18.
In the pre-market trading, Silvercorp Metals is 2.68% higher at $11.48 on the New York Stock Exchange.
