FEMSA Announces New Share Buyback Plan

Fomento Economico Mexicano (FMX) has released an update.

Fomento Economico Mexicano (FEMSA) has recently completed an accelerated share repurchase (ASR) program, buying back approximately 3.2 million of its American Depositary Shares (ADSs) at an average price of $123.27 per ADS, spending a total of $400 million. Additionally, the company has embarked on a new ASR plan to repurchase up to $600 million of its ADSs, with the final number of shares to be based on the average price during the ASR term. The completion of this latest buyback initiative is anticipated by the end of the fourth quarter of 2024.

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