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Banco Macro repurchases more than 1.1 million common shares

Banco Macro SA said it repurchased 1,114,212 class B common shares at an average weighted price of 151.293 Argentine pesos per share.

The aggregate cost for the buyback totaled about 168.6 million pesos, according to a Dec. 27 filing.

Just a day earlier, the bank disclosed the repurchase of 711,386 class B common shares for a total amount of about 98.4 million pesos.

Both buybacks are part of a recently approved program that authorizes the company to repurchase up to 1% of its total capital stock at a maximum price of 158.00 pesos per share. The program will run through Jan. 10, 2019, subject to further extension.

As of Dec. 27, US$1 was equivalent to 38.49 Argentine pesos.