MercadoLibre, Inc. announces an Equity Buyback for $450 million worth of its shares.
August 05, 2021 at 09:57 pm
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MercadoLibre, Inc. (NasdaqGS:MELI) announces a share repurchase program. Under the program, the company will repurchase up to $150 million worth of its shares. The program is valid till August 31, 2022.
MercadoLibre, Inc. is the leading online marketplace in Latin America. The group operates an IT platform enabling individuals and professionals to carry out their purchasing and selling transactions for goods and services. The activity is organized around 5 areas:
- operation of online trading platforms;
- online payment services: services provided through the MercadoPago platform;
- shipping services: services provided through the MercadoEnvios platform;
- development of classified ad sites;
- other: e-commerce software development, advertising services, etc.
Net sales are distributed geographically as follows: Brazil (53.8%), Argentina (23.7%), Mexico (17.7%) and other (4.8%).