FEMSA Announces New $600M ADS Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
FEMSA (NYSE:FMX) has announced a new $600 million accelerated share repurchase (ASR) program for its American Depositary Shares (ADSs). The final settlement is expected by Q4 2024.
June 10, 2024 | 1:51 pm
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FEMSA has announced a $600 million accelerated share repurchase program for its ADSs, which is expected to be settled by Q4 2024. This move is likely to positively impact the stock price in the short term as it indicates confidence in the company's value.
The announcement of a $600 million share repurchase program typically signals that the company believes its shares are undervalued, which can boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100