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

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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.

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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