Grupo Simec announces share repurchase

Friday, 20 June 2014 01:45:05 (GMT+3)   |  
       

Mexican steel manufacturer Grupo Simec announced this week that through its share repurchase fund, it acquired 513,000 shares (SIMEC-B).

In information sent to the Mexican Stock Exchange (BMV), the firm said it has authorized a repurchase fund of 1 billion pesos (US$79 million), which will be used to assist interested investors to generate more liquidity of its share in the market.

The company said the objective of the fund is to increase the rotation of the floating shares, "not to decrease or increase the current number of shares in the market."


Similar articles

Interest in investing in Mexico grows to $31.5 billion

21 Mar | Steel News

Switzerland-based Sulzer moves some production from the US to Mexico

14 Mar | Steel News

FDI in Mexican steel companies in 2023 reaches $2.15 billion

01 Mar | Steel News

Voss Automotive to invest $40 million to expand in Mexico

28 Feb | Steel News

Brakes India will invest $70 million in Mexican ferrous foundry plant

28 Feb | Steel News

Mexican ABX will invest in new SBQ stretching line

27 Feb | Steel News

Fixed investment in Mexico grows 19.2 percent in November

02 Feb | Steel News

Mexico’s Conduit Rymco will expand steel tubing plant with $45 million

19 Jan | Steel News

US-based heavy truck producer will invest $50 million in Mexico

05 Jan | Steel News

Japanese investors to invest $4.0 billion in Mexico in 2024

02 Jan | Steel News