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Companies within the Argos Business Group have carried out buybacks amounting to more than COP 340 billion
21 May 2024The share repurchase plan announced by Grupo Argos and its listed companies amounts to more than COP 1 trillion.
Read moreThis result occurs within the context of measures announced to the market last year aimed at unlocking shareholder value and acknowledges the positive performance of Grupo Argos and its businesses in construction materials, energy, and road and airport concessions, allowing for the appreciation of shares to exceed 100% on a consolidated basis, positioning them among the most sought-after stocks by investors on the Colombia Stock Exchange.
The price of Grupo Argos’ ordinary share between April 29, 2023, and the same day in 2024, rose from COP 8,850 to COP 16,500, representing an 87% increase, while the preferred share increased from COP 5,675 to COP 11,800, growing by 108%. In the case of Cementos Argos, the ordinary share increased from COP 3,090 to COP 8,500, an increase of 175%, while the preferred share grew 203%, from COP 2,349 to COP 7,110. Finally, Celsia’s share rose from COP 2,920 to COP 4,190 in the same period, advancing by 43%.
With the appreciation of the shares, Grupo Argos’ market capitalization increased from COP 7.0 trillion to COP 13.4 trillion, representing an increase of COP 6.3 trillion. Meanwhile, Cementos Argos’ market capitalization rose to COP 7.3 trillion and, in the case of Celsia, stood at COP 1.4 trillion during the same period. On a consolidated basis, the increase amounted to COP 15.0 trillion among the three companies.
Among other value catalysts, this growth is associated with the execution of the share buyback programs announced by the companies of Grupo Empresarial Argos for an amount of up to COP 1 trillion, in which, to date, transactions have been carried out for approximately COP 320,000 million on a consolidated basis.
Over the past year, the organization has also announced transactions that outline the strategic future of the organization as an asset manager, among them the combination of assets between Argos USA and Summit Materials, the start of operations of the Odinsa and Macquarie airport platform, and Celsia’s entry into the electric energy market in Peru.
The share repurchase plan announced by Grupo Argos and its listed companies amounts to more than COP 1 trillion.
Read moreThe rating took into account the fulfillment of the strategic announcements reported by Grupo Argos to the market over the past years, which have resulted in sustained growth of operational margins, greater financial flexibility, and structural solidity, even in a challenging macroeconomic environment.
Read more16% of the employees at Grupo Empresarial Argos had the opportunity to experience internal mobility in the past year.
Read moreGrupo Argos' Shareholders Assembly approved a dividend of COP 636 (+10.6%), following the company's best financial results in 90 years
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