As part of its commitment to revealing value to its shareholders, the companies of the Argos Business Group continue to advance the share repurchase programs approved by their Shareholders’ Meetings, which contemplate an investment of more than $1 billion, of which more than $420,000 million have already been executed, equivalent to nearly US$100 million, representing 30% progress.
Grupo Argos has reacquired 13.6 million shares for an amount of $160 billion and represents 1.5% of its outstanding shares.
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In the case of Cementos Argos and Celsia, the companies have repurchased more than 30 million and 13 million shares with an investment of $210 billion and more than $50 billionrespectively.
It is worth noting that, during the first half of the year, the Cementos Argos Shareholders’ Meeting approved a $375 billion extension to its $125 billion buyback program launched in 2023, for a total of up to $500 billion.
Martinsburg Plant, the fourth largest producer of Cementos Argos in the United States.
Courtesy
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The buybacks executed by Cementos Argos to date, coupled with the successful conversion of 99.8% of its preferred shares into ordinary shares, have caused Grupo Argos’ economic stake in this company to drop from 51.3% at the end of 2023 to 53.4%.
This 2% increase in share, at current market values, represents more than $200 billion.
Celsia.
Private Archive
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The implementation of share buyback plans, coupled with solid financial results and the completion of strategic transactions, have contributed to the fact that the shares of the companies of the Argos Business Group have doubled their market capitalization in the last 12 months.
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