International Petroleum Corporation's Share Buyback Strategy Explained

Author: Thomas Cooper Updated: 02-17-2025 04:17 AM

International Petroleum Corporation's Strategic Buyback Program

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) proudly shares its recent activity involving the repurchase of common shares under its normal course issuer bid (NCIB). This initiative, which took place between February 10 and 14, includes a total of 313,424 IPC common shares bought back during this period.

Details of Recent Repurchases

During this time, IPC bought 237,064 common shares on Nasdaq Stockholm, executing these transactions through Pareto Securities AB. Concurrently, 76,360 shares were repurchased on the TSX, facilitated by ATB Securities Inc. This concerted effort reflects IPC's strategic commitment to returning value to its shareholders through share buybacks.

Understanding the NCIB Framework

The NCIB is a well-structured program, announced on December 3, 2024, that aligns with the Market Abuse Regulation (EU) and relevant Toronto Stock Exchange (TSX) and Nasdaq Stockholm policies. The program is designed to create a safer environment for investors, enabling IPC to buy back shares while being compliant with all legal regulations.

Impacts on Shareholder Value

Each common share repurchased by IPC under its NCIB will subsequently be canceled. As of February 14, 2025, IPC had 117,781,927 common shares outstanding along with 822,277 shares held in treasury. This proactive measure ensures that shareholders can derive potential benefits from reduced share supply in the market, ultimately aiming to enhance share value.

The Big Picture: IPC's Growth Strategy

IPC’s share repurchase program is a fraction of its broader strategy, which aims to bolster growth through both organic and inorganic means. As an international oil and gas exploration and production company, IPC maintains a portfolio of high-quality assets located in Canada, Malaysia, and France. This diversified base supports its goal to increase value for stakeholders and sustain the company’s competitive edge.

Future Projections and Growth Aspirations

Since the NCIB commenced on December 5, 2024, IPC has repurchased 2,923,051 shares, with a maximum of 7,465,356 shares set to be repurchased over a 12-month period, concluding on December 4, 2025. This initiative is not merely a financial maneuver; it represents IPC’s commitment to maintaining robust shareholder relations alongside a strong operational performance.

Contact Information for Stakeholder Inquiries

For more information regarding the NCIB or IPC's operations, stakeholders can reach out to:

Rebecca Gordon
SVP Corporate Planning and Investor Relations
Tel: +41 22 595 10 50

Robert Eriksson
Media Manager
Tel: +46 701 11 26 15

Frequently Asked Questions

What is the purpose of IPC's share repurchase program?

The program aims to enhance shareholder value by buying back shares, thereby potentially increasing the share price.

Where did IPC conduct its share repurchases?

IPC repurchased shares on both Nasdaq Stockholm and the Toronto Stock Exchange (TSX).

How many shares has IPC repurchased under the NCIB program?

As of February 14, 2025, IPC has repurchased 2,923,051 shares under the NCIB.

What will happen to the shares that IPC repurchases?

All repurchased shares will be canceled, reducing the total number of outstanding shares.

How can stakeholders get more information about the company?

Stakeholders can reach out to the corporate planning and investor relations team for inquiries.

About The Author

Hello, I'm Thomas Cooper, a financial expert and writer passionate about helping people understand and navigate the financial world. Having a solid financial background and a lot of experience, my area of expertise is simplifying difficult financial ideas into useful, understandable guidance. My goal with my writings and blog entries is to provide you the information and resources you need to make wise financial choices.

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