Wire
Fomento Economico Mexicano Signs Accelerated Share Repurchase Agreement
Fomento Economico Mexicano (FMX), or Femsa, said Monday it has signed an accelerated share repurchase agreement with a US financial institution to buy back up to $280 million of its American depositary shares.The final number of ADSs repurchased and delivered under the agreement will be based on the daily volume-weighted average ADS price during the agreement term, with the final settlement expected to occur before the end of 2026, the company said.Shares of the company were up 2.8% in Monday trading.Price: $120.20, Change: $+3.25, Percent Change: +2.78%
$FMX