FEMSA Announces Accelerated Share Repurchase Agreement
Fomento Economico Mexicano S.A.B. de C.V. (FMX)
Last fomento economico mexicano s.a.b. de c.v. earnings: 10/26 05:05 pm
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US:NYSE Investor Relations:
ir.femsa.com
Company Research
Source: GlobeNewswire
MONTERREY, Mexico, March 15, 2024 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA” or the “Company”) (NYSE: FMX; BMV: FEMSAUBD, FEMSAUB) today announced that, consistent with its capital allocation framework and commitment to enhance capital returns to shareholders, it has entered into a derivative instrument known as an accelerated share repurchase (“ASR”) agreement with a financial institution in the United States of America, to repurchase the Company’s shares through the acquisition of American Depositary Shares (“ADS”). Under the terms of the ASR agreement, FEMSA has agreed to repurchase from such financial institution an aggregate amount of USD $400 million of its ADS1. The ASR contemplates an initial delivery of approximately 20% of the ADS on or about March 19, 2024. The total number of ADS ultimately repurchased under the ASR agreement will be based on the daily volume-weighted average price of the Company’s ADS during the term of the agreement, subje
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FMX
News
- FEMSA Announces First Quarter 2024 ResultsGlobeNewswire
- FEMSA Files 2023 SEC Annual ReportGlobeNewswire
- FEMSA Schedules Conference Call to Discuss First Quarter Financial ResultsGlobeNewswire
- FEMSA Shareholders’ Meeting ResolutionsGlobeNewswire
- Fomento Económico Mexicano, S.A.B. de C.V. (NYSE: FMX) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
FMX
Sec Filings
- 4/26/24 - Form 6-K
- 4/23/24 - Form 20-F
- 4/23/24 - Form 6-K
- FMX's page on the SEC website