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Banco Macro repurchases almost 1 million common shares

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Banco Macro repurchases almost 1 million common shares

Banco Macro SA said it repurchased 949,824 class B common shares at an average weighted price of about 151.32 Argentine pesos per share.

The aggregate amount of the repurchase totaled approximately 143.7 million pesos, according to a regulatory filing.

The buyback follows the bank's establishment of a repurchase program to acquire up to 5% of its total capital stock. The maximum funding amount for the program is up to 5.00 billion pesos.

The company launched the program "based on the current domestic and international macroeconomic context and the fluctuations in the capital market in general, which has materially impacted the price of domestic shares, including the quotation of the shares of the bank."

As of Aug. 10, US$1 was equivalent to 29.00 Argentine pesos.