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CI’s Chairman Says Firm May Accelerate Buybacks After US Spinoff

  • ‘We’re privatizing this business very quickly,’ chairman says
  • Firm is valued at 4.5 times earnings amid investor skepticism
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CI Financial Corp. is likely to increase the pace of share repurchases and will keep buying aggressively as long as the stock is at a low valuation, Chairman Bill Holland said. 

The Canadian investment firm has spent about C$770 million ($587 million) buying its own shares since the beginning of 2020. It may decide to accelerate buybacks once it completes an initial public offering of as much as 20% of its US wealth-management arm, Holland said in an interview.