Banco Macro Caps Buyback at 20 Million Shares and 160 Billion Argentine Pesos

Banco Macro S.A. (BMA) announced Wednesday, Oct. 28, a buyback authorization for up to 20 million Class B shares, with total spending capped at 160 billion Argentine pesos.

The bank set a maximum price of 10,700 Argentine pesos per share. Acquisitions in any one day are capped at 25% of average daily trading volume over the preceding 90 business days, calculated using consolidated activity across the bank’s local and international markets.

The 25% threshold applies to purchases in a single day, while the overall authorization is limited to 20 million shares and 160 billion Argentine pesos. The per-share price ceiling also applies to purchases made under the program.

The initial term lasts 45 calendar days and begins the day after the relevant information is published in the Buenos Aires Stock Exchange bulletin. The term may be renewed or extended.