IRSA Announces $20M Share Buyback Program
Ticker: IRS-WT · Form: 6-K · Filed: Aug 13, 2024 · CIK: 933267
Sentiment: neutral
Topics: share-repurchase, capital-return
TL;DR
IRSA is buying back up to 10% of its stock, maxing out at $20M.
AI Summary
IRSA Inversiones y Representaciones Sociedad Anonima (IRSA) announced a new share repurchase program on August 13, 2024. The company has authorized the repurchase of up to 10% of its outstanding common shares, with a maximum expenditure of $20 million.
Why It Matters
This buyback program signals management's confidence in the company's valuation and can potentially increase earnings per share by reducing the number of outstanding shares.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of a share repurchase program, which is a common corporate action.
Key Numbers
- $20M — Share Repurchase Authorization (Maximum amount the company is authorized to spend on repurchasing its shares.)
- 10% — Share Repurchase Limit (Maximum percentage of outstanding common shares that can be repurchased.)
Key Players & Entities
- IRSA Inversiones y Representaciones Sociedad Anonima (company) — Registrant
- IRSA Investments and Representations Inc. (company) — Registrant's English name
- $20 million (dollar_amount) — Maximum expenditure for share repurchase
- 10% (dollar_amount) — Maximum percentage of outstanding common shares to be repurchased
- August 13, 2024 (date) — Filing date
FAQ
What is the total value authorized for IRSA's share repurchase program?
The company has authorized a maximum expenditure of $20 million for the share repurchase program.
What percentage of outstanding shares can IRSA repurchase?
IRSA is authorized to repurchase up to 10% of its outstanding common shares.
On what date was this share repurchase plan announced?
The plan was announced on August 13, 2024.
What is the jurisdiction of incorporation for IRSA?
IRSA is incorporated in the Republic of Argentina.
What is the principal executive office address of IRSA?
The principal executive offices are located at Carlos Della Paolera 261, 9th Floor, Buenos Aires, Argentina.
Filing Stats: 372 words · 1 min read · ~1 pages · Grade level 16 · Accepted 2024-08-13 09:53:01
Filing Documents
- form6k.htm (6-K) — 31KB
- 0001654954-24-010404.txt ( ) — 32KB
SIGNATURES
SIGNATURES     Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Buenos Aires, Argentina.     IRSA Inversiones y Representaciones Sociedad Anónima           By: /s/ Saúl Zang       Saúl Zang       Responsible for the Relationship with the Markets     August 13 , 2024