Banco Macro Announces Share Buyback Program to Protect Shareholder Value
Banco Macro S.A. (BMA) has announced a new share repurchase program aimed at addressing recent declines in its market price, which the Board believes do not reflect the bank's true asset value or economic potential. The initiative is designed to protect shareholder investments and reduce stock price volatility amidst current macroeconomic fluctuations. The buyback program allows for the acquisition of up to 20,000,000 Class B common shares, representing up to 10% of the bank's capital stock. The total investment is capped at Ps$. 160,000,000,000, with a maximum purchase price set at Ps$. 10,700.00 per share. The program will be executed over a period of 45 calendar days following its official publication.
Tickers: $BMA
Topics: capital management share repurchase shareholder value stock volatility