International Petroleum Corporation's Strategic Share Buyback Update

Author: Riley Hayes Updated: 04-14-2025 04:18 AM

International Petroleum Corporation's Recent Activities

International Petroleum Corporation (IPC) is excited to share its recent actions regarding its normal course issuer bid (NCIB), which underscores its commitment to maximizing shareholder value. During a recent period from April 7 to April 11, IPC successfully repurchased a total of 277,060 common shares as part of its strategic share buyback initiative.

Understanding the Normal Course Issuer Bid

IPC initially announced its NCIB program on December 3, 2024. This approved share repurchase plan allows IPC to buy back its own shares, which may be cancelled afterward. By enhancing shareholder equity, the company aims to create long-term value for its stakeholders.

Repurchase Activity Breakdown

During the specified period in early April, IPC executed a total of 198,000 share repurchases on the Nasdaq Stockholm exchange, facilitated by Pareto Securities AB. This move demonstrates the active role IPC is taking in managing its capital structure. Additionally, IPC acquired 79,060 shares on the Toronto Stock Exchange (TSX), with ATB Securities Inc. handling those transactions.

Implications of Share Repurchases

All shares bought back under the NCIB will be cancelled, contributing to a decreased total share count that should enhance the value of remaining shares. As of April 11, 2025, IPC has a total of 115,176,514 outstanding shares, with 484,000 held in treasury.

Long-term Strategy and Goals

IPC has strategically repurchased around 4,978,369 shares since the inception of the NCIB in December 2024, with a maximum limit of 7,465,356 shares set for repurchase. This aggressive buyback is a testament to IPC’s confidence in its business model and market position, showcasing efforts aimed at both organic and inorganic growth.

Company Background

IPC is a global oil and gas exploration and production entity, boasting a robust portfolio of high-quality assets located in regions such as Canada, Malaysia, and France. IPC is proud to be part of the Lundin Group, a renowned group of companies in the resource sector. Its shares are actively traded on both the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm exchange under the ticker symbol "IPCO".

Company Contacts for Inquiries

For further information regarding this announcement or any other inquiries, please reach out to:

Rebecca Gordon
SVP Corporate Planning and Investor Relations
Email: rebecca.gordon@international-petroleum.com
Tel: +41 22 595 10 50

Robert Eriksson
Media Manager
Email: reriksson@rive6.ch
Tel: +46 701 11 26 15

Frequently Asked Questions

1. What was the total number of shares repurchased by IPC in April 2025?

IPC repurchased a total of 277,060 shares during the period of April 7 to 11, 2025.

2. How many shares has IPC repurchased since December 2024?

IPC has repurchased 4,978,369 shares since the NCIB began on December 5, 2024.

3. What is the purpose of the Normal Course Issuer Bid?

The NCIB allows IPC to buy back its shares, which helps enhance shareholder value and optimize its capital structure.

4. Who facilitated the share repurchases on the Nasdaq Stockholm?

The share repurchases on the Nasdaq Stockholm exchange were managed by Pareto Securities AB on behalf of IPC.

5. How many outstanding shares does IPC currently have?

As of April 11, 2025, IPC has 115,176,514 outstanding common shares, with 484,000 in treasury.

About The Author

Riley Hayes here, a financial writer and specialist committed to assisting individuals in navigating the intricate world of finance. My love is using my blog and articles to simplify complex financial ideas into understandable, doable guidance. Having worked in finance for many years, I try to give my readers the information and resources they need to make wise financial choices.

Writing for several financial blogs has let me connect with a wide range of readers, from novice investors seeking new ideas to seasoned investors. My mission is to make money interesting and approachable so you may take charge of your financial future. I appreciate you traveling with me toward success and financial literacy.

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