DistantNews
Support us
YPF to let small investors buy shares via digital app
🇵🇾 Paraguay /Technology

YPF to let small investors buy shares via digital app

From ABC Color · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News From a news agency New plan
  • Argentine oil company YPF will allow small investors to buy its shares through its digital app starting August 1.
  • This initiative aims to combat online scams by offering a legitimate platform for purchasing YPF stock.
  • YPF shares have seen significant gains this year, rising 52.2%, driven by strong company results and operations in the Vaca Muerta formation.

YPF, Argentina's leading hydrocarbon producer, announced that it will enable small investors to purchase company shares directly through its digital application starting August 1. This move comes as YPF's stock has experienced substantial growth in recent months.

Horacio Marín, the president and CEO of YPF, stated that the company aims to combat fraudulent online schemes targeting inexperienced investors. "From August 1, people will be able to buy shares through the YPF app. Anyone will be able to buy YPF shares," Marín told reporters.

The App YPF, already used by customers of the company's gas station network, includes a digital wallet. Through a partnership with Santander, this wallet has offered financial returns on deposited funds since May.

Desde el 1 de agosto la gente va a poder comprar acciones a través de la aplicación de YPF. Cualquiera va a poder comprar acciones de YPF

— Horacio MarínAnnouncing the new feature allowing small investors to buy YPF shares via the company's digital app.

YPF, 51% state-controlled, has seen its shares surge by 52.2% year-to-date. This performance is attributed to the company's positive financial results and its leading role in the Vaca Muerta unconventional hydrocarbon formation. On Friday, YPF shares were trading at 83,250 pesos ($57.40) on the Buenos Aires Stock Exchange.

In conjunction with the app sales, YPF will implement a stock split, dividing each existing share into ten. This operation is intended to increase liquidity and make shares more accessible to retail investors by lowering the per-unit price. Currently, one YPF share trades for approximately 83,000 pesos, but after the split, a single unit could be purchased for around 8,300 pesos, making it comparable to shares of other Argentine oil companies.

refleja

— Horacio MarínDescribing how the stock's value reflects YPF's results.
DistantNews Editorial

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog