Mexico's Femsa up after $250 mln share buyback announcement

Coca-Cola Femsa SAB De CV

19/05/2025 18:37

** Shares of Mexico's Femsa FEMSAUBD.MX rise 2.55% in Mexico City after share buyback agreement

** The company, which controls one of the largest Coca-Cola bottlers and a network of convenience store chains, announces a$250 million share repurchase agreement in the U.S.

** "In our opinion, although the announcement is already in line with expectations, the news is favorable because it marks the beginning of share buybacks," Banorte analysts say in a note

** Today's gains added 16.2 billion pesos ($836.28 million) to the company's market capitalization

** Shares of the retailer and bottler outperform Mexico's main stock index .MXX, which rises 0.9%

** ADRs in New York rise nearly 3%

** The buyback will be carried out through an accelerated share repurchase, according to the company

($1 = 19.3715 Mexican pesos)

 (Reporting by Aida Pelaez-Fernandez; Editing by Kylie Madry)

 ((Aida.Pelaez-Fernandez@thomsonreuters.com;))