Banco Macro Caps Buyback at 20 Million Shares and 160 Billion Argentine Pesos

Banco Macro S.A. (BMA) announced Wednesday, Oct. 28, a buyback authorization for up to 20 million Class B shares, with total spending capped at 160 billion Argentine pesos. The bank set a maximum price of 10,700 Argentine pesos per share. Acquisitions in any one day are capped at 25% of average daily trading volume over the preceding 90 business days, calculated using consolidated activity across the bank’s local and international markets. The 25% threshold applies to purchases in a single day, while the overall authorization is limited to 20 million shares and 160 billion Argentine pesos.

Source: TokenPost