IRSA Inversiones y Representaciones Sociedad Anónima announces an Equity Buyback for 81,112,220 shares, representing 10% for ARS 5,000 million.
June 15, 2023 at 03:54 pm EDT
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IRSA Inversiones y Representaciones Sociedad Anónima (BASE:IRSA) announces a share repurchase program. Under the program, the company will repurchase 81,112,220 shares, representing 10% of its issued share capital, for ARS 5,000 million. The shares will be repurchased Up to a maximum of USD 8 per GDS and up to a maximum value in pesos of ARS 425 per share. The purpose of the program is strengthen the shares and reduce the fluctuations in the market value, that does not reflect the real economic value of the assets, directly affecting the interests of the Company?s shareholders. The program will be funded with realized and liquid earnings pending of distribution of the Company and/or freely available reserves and/or facultative reserves. The program will be valid up to 180 days. As of March 31, 2023, the Company had issued 811,122,208 ordinary shares.
On September 6, 2023, the company announced that it has changed its repurchase price from ARS 425 per share to ARS 720 per share.
IRSA Inversiones y Representaciones Sociedad Anonima is a holding company. The Company invests on its own behalf and through investee companies in companies operating in various sectors of the Israeli and global economy. The Company's segments are Cellcom, which includes cellular telephone services, content and added value services, other services and revenues from the sale of end user equipment in the cellular field; Property and Buildings and projects in Las Vegas, which includes the rental of income-generating properties and residential buildings; Shufersal, which includes retail and the rental of income-generating properties; Adama, which includes the sale of agro products and non-agro products; Clal Insurance Enterprise Holdings, which operates through subsidiary companies in the fields of insurance, pensions and provident funds, in the field of financial services and in the holding of assets and real businesses, and Others.
IRSA INVERSIONES Y REPRESENTACIONES SOCIEDAD ANÓNIMA 
