Bloomberg News

Colombian Stocks: Suramericana, Fabricato, Pacific Rubiales

October 21, 2011

Oct. 21 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 12:04 p.m. local time.

The IGBC Index rose 0.9 percent to 13,482.22 while the Colcap Index gained 0.4 percent to 1,625.43.

Fabricato SA (FABRI CB), Colombia’s biggest textile maker, advanced 0.7 percent to 71 pesos after President Barack Obama signed into law a free-trade agreement with Colombia.

Grupo de Inversiones Suramericana SA (GRUPOSUR CB), the parent company of Colombia’s largest bank, fell 0.3 percent to 33,100 pesos. The company said its board of directors approved rules and regulations for the sale of 120 million non-voting preferred shares, according to a regulatory filing yesterday.

Sura, as the company is known, said the sale is pending approval from Colombia’s securities regulator, the filing said.

Pacific Rubiales Energy Corp. (PREC CB), the Toronto-based oil producer that operates fields in Colombia, rose 2 percent, the biggest intraday gain in a week, to 45,840 pesos.

Petrotech Engineering Ltd. said Rubiales has a total of 2.8 billion barrels of oil equivalent in its exploration blocks in Colombia, Peru and Guatemala, according to a resource evaluation report filed with Colombia’s securities regulator today.

Rubiales “is in the best position to have some of the most significant oil discoveries in Colombia in the short and medium term,” according to a report e-mailed by Juan David Pineros, an analyst at Interbolsa SA.

--Editors: Glenn J. Kalinoski, Richard Richtmyer

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


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus