Bloomberg News

Colombian Stock Movers: Interconexion Declines; Rubiales Rises

October 10, 2011

Oct. 10 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:56 a.m. local time.

The IGBC Index rose 1.2 percent to 13,021.20 while the Colcap Index gained 0.7 percent to 1,594.98.

Interconexion Electrica SA (ISA CB), a Colombian electricity and road company, fell 0.7 percent to 11,620 pesos. The company’s Transelca SA unit plans to sell 180 billion pesos ($93 million) worth of inflation-linked bonds in the domestic market tomorrow.

Transelca will offer to sell 10- and 15-year securities tied to inflation, according to a statement published in Bogota- based La Republica newspaper. As much as 50 percent of the funds will be used for debt management arrangements and the rest will be used to finance the company’s operation, according to the statement. Brokerage Correval SA is managing the sale.

Pacific Rubiales Energy Corp. (PREC CB), the Toronto-based oil producer that operates fields in Colombia, rose 3.3 percent to 41,720 pesos. Colombia’s government brokered a wage accord between Pacific Rubiales Energy Corp. and labor groups following protests this year, according to an Oct. 8 statement on the ministry of energy and mines’ website.

--Editors: Richard Richtmyer, Marie-France Han

ISA CB PREC CB

To contact the reporter on this story: Blake Schmidt in Bogota at bschmidt16@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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