Colliers Intl Group Inc Stock Price, News & Analysis

Colliers International Group (NASDAQ: CIGI) has announced a normal course issuer bid (NCIB) to buy back up to 3,000,000 subordinate voting shares during the period from July 20, 2020, to July 19, 2021. This represents approximately 10% of its public float as of June 30, 2020. The purchases will occur on the TSX, NASDAQ, or alternative trading systems. The average daily trading volume on the TSX for H1 2020 was 107,482 shares, limiting daily NCIB purchases to 26,870 shares. Colliers' previous NCIB, allowing the purchase of 2,900,000 shares, expires on July 17, 2020.

Colliers International (NASDAQ and TSX: CIGI) has completed the acquisition of a controlling interest in Maser Consulting P.A., enhancing its position in the engineering design services sector. Maser, with over 1,000 professionals and a 2019 revenue of $167 million, will operate under the rebranded name 'Colliers Engineering Services' in early 2021. This move diversifies Colliers' revenue streams and strengthens its Outsourcing & Advisory segment. The partnership aims to leverage both companies' expertise to tap into the $100 billion engineering design services market.

Colliers International Group (CIGI) has been named to the 2020 Global Outsourcing 100 list by IAOP® for the 14th consecutive year, earning All Star distinction for top scores in Customer References, Awards & Certifications, Programs for Innovation, and Corporate Social Responsibility. The company achieved a perfect score in Customer References, highlighting its commitment to client success. This prestigious recognition underscores Colliers' strong leadership in the outsourcing sector and its dedication to delivering exceptional service.

Colliers International Group (NASDAQ: CIGI) has declared a semi-annual cash dividend of US$0.05 per Common Share, payable on July 13, 2020. Shareholders on record by June 30, 2020, will receive this dividend, classified as an 'eligible dividend' for Canadian tax purposes. Colliers operates in 68 countries with a workforce of over 15,000 professionals, delivering strong investment returns. In 2019, the company reported revenues exceeding $3.0 billion, with $33 billion in assets under management.

Colliers International Group has completed a private placement of 4.00% convertible senior subordinated notes due 2025, raising US$230 million in gross proceeds. The funds will primarily be used to reduce existing debt under its revolving credit facility, making it accessible for future working capital and acquisitions. The notes, which bear a 4.00% interest rate, have a conversion rate of 17.2507 subordinate voting shares per US$1,000 principal amount, reflecting a premium of 32.5% over the recent stock price.

Colliers International Group (CIGI) announced a $200 million offering of convertible senior subordinated notes due in 2025. The notes will bear an interest rate of 4.00% per annum and are expected to close by May 19, 2020. Proceeds will be used to repay existing debt under its revolving credit facility, thus providing availability for working capital and acquisitions. The initial conversion price is set at approximately $57.97 per share, reflecting a 32.5% premium to the previous closing price. The offering is limited to qualified institutional buyers.

Colliers International Group (NASDAQ, TSX: CIGI) has announced a US$200 million offering of convertible senior subordinated notes due 2025. The proceeds will be utilized to reduce debt under its revolving credit facility, aiding in working capital and acquisitions. The offering includes a 30-day option for purchasers to buy an additional US$30 million. The notes are convertible into Subordinate Voting Shares and subject to specific terms and conditions. This move reflects Colliers' strategy to strengthen its financial position in challenging market conditions.

Colliers International (CIGI) is collaborating with its proptech partners from 2018 and 2019 to provide innovative virtual tools to address COVID-19 challenges. These solutions employ cutting-edge technologies like AI, augmented/virtual reality, and data analytics. VP Zach Michaud highlighted that such tools, including lease abstraction and workplace analytics, offer competitive advantages. Despite challenges, the company remains committed to its accelerator program, aiming to enhance innovation in 2021. Colliers has invested in 19 startups and worked with over 150 mentors, reinforcing its position in real estate services.