Mexico’s Monex launches share buyback in move toward market exit

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The buyback, which ends on Jan. 9, prices the 30.78 million shares held by investors at 21.71 Mexican pesos ($1.10) apiece, according to a document published by the exchange.

The firm’s shares, which typically have low trading volume, were up slightly to 18.50 pesos on Friday afternoon. 

Monex said that once the buyback period is over, it will cancel the purchased shares, making it the most recent in a steady exodus of companies to leave the market.

($1 = 19.7390 Mexican pesos)