Brazil's Cetip to buy back 2.1 pct of outstanding shares
SAO PAULO, March 5 (Reuters) - Cetip SA Mercados Organizados plans to repurchase as many as 5.4 million shares during the next 12 months, as Brazil's largest securities clearinghouse battles with mounting risk aversion and declining capital markets activity on its home turf.
The board of São Paulo-based Cetip agreed on Thursday to the buyback, which would withdraw the equivalent of 2.13 percent of outstanding stock from the market, according to a securities filing. At current prices, the repurchase would cost the company about 184.4 million reais ($61.5 million), according to Thomson Reuters calculations based on Thursday's closing price. (Reporting by Guillermo Parra-Bernal; Editing by Ken Wills)
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