Cemex has begun its share repurchase programme, approved at its ordinary shareholders’ meeting for up to US$500m.

"We are pleased to initiate our share buyback programme, which is one of the capital allocation options we have to create value for our shareholders," said Fernando A González, CEO.

The company repurchased 7m CPOs on 27 November. The total amount of the repurchase, including commissions and VAT, was MXN65.9m (US$3.2m).