Peru Buybacks Could Bolster Liquidity, Credicorp Says
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Peruvian issuers are contemplating share buybacks to counter the lowest volume in the Lima stock exchange since 2009, according to Credicorp.
Cementos Pacasmayo SAA has called a shareholder meeting for July 17 to vote on a buyback while Cia. Minera Milpo SAA, a zinc mining unit of Brazil’s Votorantim Metais SA, is studying such a move. While buybacks are rare in Peru, companies are considering them as a means of making their shares trade more in line with sales growth prospects, Credicorp analyst Hector Collantes said.