MEXICO CITY--(BUSINESS WIRE)-- Grupo GICSA, S.A.B. de C.V. ("GICSA") (BMV: GICSA], announced that it has increased its share repurchase program operation in the market, and given the current market conditions, GICSA plans to actively continue its buyback program operations. Yesterday, the Company bought 2 million shares.
Mr. Rodrigo Assam, Investor Relations Officer of GICSA commented “This increase in the share repurchase program operation reflects our conviction in the proper execution of our business plan, growth and value creation for our shareholders.”
GICSA is a leading company in the development, investment, commercialization and operation of shopping malls, corporate offices and industrial warehouses well known for their high quality standards, which transform and create new development spaces, lifestyles and employment in Mexico, in accordance to its history and executed projects. Founded in 1989 on the basis of an integrated business model, the Company has developed more than 2.7 million m2 of gross leasable area and built iconic projects such as Torres Esmeralda I and II, Arcos Bosques, Torre HSBC and Isla Shopping Cancun. As of September 30, 2017, the Company owned 15 income-generating properties, consisting of nine shopping malls, four mixed use projects and two corporate office buildings, representing a total Gross Leasable Area (GLA) 790,201 square meters, and a Proportional GLA of 438,580 square meters. Since June 2015, GICSA is listed on the Mexican Stock Exchange under the ticker (BMV: GICSA B).
This press release may contain forward-looking statements, and involve risk and uncertainty. The words “estimates”, “anticipates”, “projects”, “plans”, “believes”, “expects”, “seeks” and similar expressions, are intended to identify forward-looking statements. Grupo GICSA warns readers that declarations and/or estimates mentioned in this document, or stated by Grupo GICSA’s management team, are subject to a number of risks and uncertainties that could be in function of various factors that are out of Grupo GICSA’s control. Future expectations reflect Grupo GICSA’s judgement at the date of this document. Grupo GICSA reserves the right or obligation to update information contained in the report or derived from it. Past or present performance is not an indicator of future performance.
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For more information
Diódoro Batalla, 5255-5148-0400 Ext. 4444
Chief Financial Officer
Rodrigo Assam, 5255-5148-0400 Ext. 4447
Investor Relations Officer
in New York:
i-advize Corporate Communications, Inc.
Rafael Borja, 212-406-3693
Source: Grupo GICSA, S.A.B. de C.V.