Magna International Inc. (TSX:MG) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 29,948,000 common shares, representing 9.96% of its issued share capital. The shares repurchased will be cancelled. The bid is subject to the approval by the Toronto Stock Exchange and New York Stock Exchange. The bid is valid till November 14, 2022. As at November 1, 2021, the company had 300,752,976 issued and outstanding common shares.