Grupo Simec Announces Repurchases Of Own Shares

(RTTNews) - Grupo Simec, S.A.B de C.V. (SIM) announced that through its repurchase fund, on July 25, 2013, it bought 9,331 of its own shares.

Grupo Simec said it has authorized a repurchase fund of $ 1,000 million pesos, which will be used to support interested investors in generating greater liquidity of its stock in the market, buying stocks when needed and selling them when there is excess of demand.

The company stated that the objective of this fund is to increase the turnover of the floating shares and it is not intended to decrease or increase the current number of shares in the market.