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3h ago

Banco Macro Approves 60-Day, $150 Million Share Buyback

Management frames the move as a confidence signal backed by excess capital.

JORGE BRITO
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Banco Macro busca sostener su valor de mercado en medio de la crisis
El Banco Macro anunció un plan de recompra de acciones frente al desafiante contexto financiero.

Overview

  • Macro filed the program with the CNV and said purchases may begin once the terms are published in the Buenos Aires exchange bulletin.
  • The authorization covers up to ARS 225,000 million or 30 million Class B shares, representing less than 4.5% of capital and within the 10% regulatory cap.
  • The bank set a maximum purchase price of ARS 7,500 per share and limited daily buying to 25% of the 90-day average trading volume across all venues.
  • The stock rose about 2.3% to ARS 6,770 on the announcement day after a decline of roughly 40% over the past year.
  • Leaders said the plan is feasible given the balance sheet’s strength and cited previous buybacks in 2008, 2011 and 2018 as precedents.