By Adriano Marchese


Galaxy Digital Holdings Ltd. said it has received approval to buy back up to 10% of its public float over the course of one year.

The Canadian financial-services and investment management company said the Toronto Stock Exchange has approved its plan to begin a normal course issuer bid, or NCIB, to buy back up to 10.6 million of its shares. The company is involved in the digital asset, cryptocurrency and blockchain technology sectors.

Galaxy Digital intends to begin buying back the shares May 18. At Friday's closing price of 8.76 Canadian dollars (US$6.79), the value of the shares would be around C$92.8 million.

Along with those of many other Canadian listed crypto companies, Galaxy Digital's shares have fallen in 2022. Shares are down more than 61% since the beginning of the year.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

05-16-22 0825ET