trending Market Intelligence /marketintelligence/en/news-insights/trending/MpaF3U1h2kZtbIz6kTYcfg2 content esgSubNav
In This List

Banco Macro sets terms for fresh share buyback program

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Insight Weekly: CEO pay jumps; yield curve inversion deepens; wind giants lift turbine prices


Banco Macro sets terms for fresh share buyback program

Banco Macro SA said its board approved a new share repurchase program authorizing the bank to invest up to 900.0 million Argentine pesos in buybacks.

A maximum of 1% of the bank's total capital stock can be repurchased under the new program at a price of up to 158.00 pesos per share, according to a filing. The program will run through Jan. 10, 2019, subject to further extension.

"This decision has been adopted 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," the Argentine lender said.

Banco Macro has repurchased millions of shares in recent months under multiple previous buyback programs. A program allowing for the buyback of up to 1.89 billion pesos worth of shares expired in November.

As of Dec. 20, US$1 was equivalent to 38.10 Argentine pesos.