Pampa to Buy Back Shares

Argentina energy conglomerate Pampa Energia said it plans to launch a public offering to buy back up to ARP94.5m, or 70m, of its shares, which represent about 4.58% of the company’s share capital. Pampa said it will pay ARP1.10-ARP1.35 per share. Funds for the stock buyback will come from the $28.3m raised through the sale of a turbine, Pampa said in September. Pampa shares closed at ARP1.13 Wednesday, a 5.83% drop from the previous day.