IRSA Announces Share Repurchase Program
Ticker: IRS-WT · Form: 6-K · Filed: Sep 6, 2024 · CIK: 933267
Sentiment: neutral
Topics: share-repurchase, capital-return
TL;DR
IRSA is buying back up to 10% of its stock, max $20M.
AI Summary
IRSA Inversiones y Representaciones Sociedad Anonima (IRSA) announced a share repurchase program on September 6, 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 repurchase 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 — The filing is a routine announcement of a share repurchase program, which is a common corporate action.
Key Numbers
- $20M — Repurchase Authorization Limit (Maximum amount the company is authorized to spend on share repurchases.)
- 10% — Repurchase Authorization Limit (Maximum percentage of outstanding shares the company can repurchase.)
Key Players & Entities
- IRSA Inversiones y Representaciones Sociedad Anonima (company) — Registrant
- IRSA Investments and Representations Inc. (company) — Registrant's English name
- September 6, 2024 (date) — Filing date
- $20 million (dollar_amount) — Maximum expenditure for share repurchase
- 10% (percentage) — Maximum percentage of outstanding shares to be repurchased
FAQ
What is the maximum number of shares IRSA can repurchase?
The filing states the repurchase is authorized for up to 10% of outstanding common shares, but does not specify a fixed number of shares.
When does the share repurchase program become effective?
The filing does not specify an effective date for the repurchase program, only that it was announced in September 2024.
What is the duration of the share repurchase program?
The filing does not specify a duration or expiration date for the share repurchase program.
What is the company's primary business?
IRSA is identified as a 'LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES)' according to its Standard Industrial Classification.
In which jurisdiction is IRSA incorporated?
IRSA is incorporated in the Republic of Argentina.
Filing Stats: 372 words · 1 min read · ~1 pages · Grade level 16.1 · Accepted 2024-09-06 09:37:33
Filing Documents
- form6k.htm (6-K) — 31KB
- 0001654954-24-011562.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     September 6 , 2024