Mexico-based Crédito Real SAB de CV Sociedad Financiera de Objeto Múltiple ER said it repurchased 111,549 shares at market price during the week ended Dec. 6.

The company said the buybacks aim to strengthen its positioning in the stock market given the stock's current market valuation.

The shares were repurchased under a program, approved in October 2018, that allows Crédito Real to buy back US$100 million of shares over a 24-month period.