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Companies within the Argos Business Group have carried out buybacks amounting to more than COP 340 billion

21 May 2024
  • The share repurchase plan announced by Grupo Argos and its listed companies amounts to more than COP 1 trillion.
  • This strategy, combined with the closing of strategic deals and the positive operational performance of all businesses, has increased the market capitalization of the Grupo Empresarial Argos companies by COP 15 trillion over the past year.
  • Grupo Argos and its companies remain focused on continuing to strengthen the comprehensive value generation for their shareholders and all stakeholders through strategic transactions, which resulted in a net profit of more than COP 6.5 trillion during the first quarter of 2024.

Since the share repurchase program was approved by the Shareholders’ Assembly last year, up until Friday, May 17, Grupo Argos has repurchased more than 11 million shares for an amount exceeding COP 120 billion. In the case of Cementos Argos, this amount rises to COP 175 billion, representing the buyback of over 26 million shares, while Celsia has accumulated more than 10 million repurchased shares worth COP 40 billion.

This initiative is part of the measures announced by the organization to continue creating value for its shareholders, as companies buying back their own shares at current market prices increase the ownership stake of each shareholder who maintains their investment. Likewise, this mechanism has contributed to greater dynamism and liquidity in the Colombian market.

The implementation of the program, the closing of strategic deals announced to the market over the past year, as well as the positive operational performance of the businesses, has driven a COP 15 trillion increase in the market capitalization of the Grupo Empresarial Argos companies, while the share value of Grupo Argos and Cementos Argos has doubled and tripled, respectively.