Argentine firms may pursue share buybacks as market falls

Argentine firms may pursue share buybacks as market falls

Equity Capital Markets Corporate & Sovereign Strategy Debt Energy Argentina US

Listed companies in Argentina will likely follow the lead of Pampa Energía and buy back shares to retain value after the local stock market plunged 40% last week, LatinFinance has heard. "I would not be surprised if more companies resort to this as their shares have lost a lot of ground and are probably oversold," said an economist in London who is following the situation in Argentina. "The scale of last week's fall was exceptional and was the largest since 1950 in any country after Sri Lanka."

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