OHL Mexico says will re-start 550 mln peso share buy-back scheme

viernes 12 de junio de 2015 10:18 GYT
 

MEXICO CITY, June 12 (Reuters) - OHL Mexico, the local unit of Spanish construction firm OHL, said on Friday it will re-start a share buy-back scheme, with 550 million pesos ($35.66 million) available for the purchases until April 2016.

Shares in the company briefly rose more than 6 percent following the announcement, before paring gains to around 4 percent.

Last week, OHL Mexico said it would suspend its share buy-back scheme.

Shares in the company have been hit in recent weeks by leaked recordings of individuals alleged to be OHL Mexico officials discussing overcharging for public works and making a hotel payment for a state government official.

($1 = 15.4228 pesos) (Reporting by Cyntia Barrera)