BM&FBovespa to Buy Back Shares

BM&FBovespa to Buy Back Shares

Bonds

Brazil’s main exchange, the BM&FBovespa, plans to buy back up to BRL641m of shares, some 3.5% of the total float. The entity’s stock price has fallen substantially over the past several months, and the board’s decision to buy appears to be a move to reaffirm management’s confidence in the stock. BM&FBovespa shares, which only began trading as a single entity on August 20, dropped 28% in September alone, according to Economatica. The shares close at BRL8.99 Thursday, up 5.76%. At those prices, th

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