Bloomberg News

Colombia Stock Movers: Empresa de Energia de Bogota, Enka

October 28, 2011

Oct. 28 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 11:21 a.m. local time.

The IGBC Index fell 0.8 percent to 13,472.37, while the Colcap Index declined 0.6 percent to 1,630.13.

Empresa de Energia de Bogota SA (EEB CB), Colombia’s second-biggest electricity distributor, fell 4.3 percent, the most intraday in three weeks, to 1,335 pesos. The company is to announce results today of its sale of as many as 1 trillion pesos of shares at a share price of 1,300 pesos.

The share price is adjusting to the discounted price of the share sale, said Alejandro Isaza, an analyst at Interbolsa SA.

Enka de Colombia SA (ENKA CB), a Medellin-based synthetic fibers producer, retreated 3.3 percent, the most intraday in three weeks, to 11.6 pesos. The company said its accumulated net loss through the third-quarter grew five times from the same period the year before, to 8.7 billion pesos.

“The operation continues affected by appreciation of the peso and competition of imported products,” Isaza said.

--Editors: Brendan Walsh, Marie-France Han

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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