Currency Exchange International, Corp. (TSX:CXI) (OTCQX:CURN), currently trading at $14.85 with a market capitalization of $91.62 million, announced Wednesday that the Toronto Stock Exchange has accepted an amendment to its normal course issuer bid, increasing the maximum number of common shares that may be repurchased from 316,646 to 377,000 shares. According to InvestingPro analysis, the company appears undervalued compared to its Fair Value.
The amended program represents 8.09% of the public float as of November 18, 2024, and 10% of the public float as of August 20, 2025. The buyback program, which began on December 2, 2024, will continue until December 1, 2025, unless terminated earlier. With a solid financial health score of “GOOD” from InvestingPro, the company appears well-positioned to execute this program.
As of August 18, 2025, the company has already repurchased 221,400 common shares at a weighted-average price of C$20.84 under the current program.
All shares will be purchased on the open market through the TSX and alternative Canadian trading platforms at prevailing market rates and subsequently canceled. Under TSX policies, CXI can repurchase a maximum of 1,000 shares during any single trading day, with allowance for one block purchase per week.
The company has also amended its automatic share purchase plan with its broker to accommodate the increased repurchase limit.
CXI’s Board of Directors stated that the market price of the common shares may not fully reflect their long-term value, making the share buyback an appropriate use of available funds.
Currency Exchange International provides foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select global clients.
This information is based on a press release statement from the company.
