August 21, 2019 |
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."
Publicly traded companies could follow Pampa's lead and repurchase shares to retain value