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Akanksha Bakshi

MEG Energy Initiates Share Buyback Program

MEG Energy Corp. (TSX:MEG) (OTC:MEGEF) has repurchased 3.4 million shares for cancellation using the block purchase exception under its normal course issuer bid.

MEG Energy made the purchase as part of a 15 million share block trade on the TSX for C$21.85 per share. Other institutional shareholders purchased the remaining shares of the block.

MEG has 23.6 million shares remaining under its current NCIB, which expires on March 9, 2023.

Price Action: MEG shares are trading lower by 3.53% at C$21.86 on TSX, and MEGEF higher by 0.43% at $17.28 on the last check Tuesday.

Photo Via Company

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