Docebo Says Board Has Approved Substantial Issuer Bid To Offer To Repurchase For Cancellation Up To $100M Of Its Outstanding Common Shares At $55.00 Per Share
Portfolio Pulse from Benzinga Newsdesk
Docebo Inc. has announced that its board has approved a substantial issuer bid to repurchase up to $100 million of its outstanding common shares at $55.00 per share. Intercap Equity, holding approximately 43% of Docebo's common shares, intends to participate in the offer to maintain around a 40% ownership stake.
November 22, 2023 | 12:31 pm
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Docebo Inc. is set to repurchase $100M of its shares at $55 each. Intercap Equity's participation indicates a strong vote of confidence in the company's value.
The share repurchase program typically signals the company's confidence in its own stock and can lead to a short-term price increase as it reduces the number of shares available in the market. Intercap Equity's intention to maintain a significant ownership stake further reinforces the positive outlook, suggesting that a major shareholder sees continued value in the company.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100