Mexico's Monex launches share buyback in move toward market exit

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Mexico's Monex launches share buyback in move toward market exit
France Dernières Nouvelles,France Actualités

Mexican brokerage Grupo Financiero Monex launched a public tender offer on Friday for its shares, priced at 668.23 million pesos ($33.85 million), as the company moves to finalize its departure from Mexico's main stock exchange.

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The buyback, which ends on Jan. 9, prices the 30.78 million shares held by investors at 21.71 Mexican pesos apiece, according to a document published by the exchange. The firm's shares, which typically have low trading volume, were up slightly to 18.

50 pesos on Friday afternoon.
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