Bloomberg News

Colombian Stock Movers: Suramericana Gains; Cementos Argos Falls

November 18, 2011

Nov. 18 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:49 a.m. local time.

The IGBC Index rose 0.2 percent to 12,729.18, while the Colcap Index fell 0.3 percent to 1,566.08.

Cementos Argos SA (CEMARGOS CB), Colombia’s biggest cement maker, fell 1.9 percent to 10,320 pesos.

Colombian President Juan Manuel Santos said the government is spending “a few extra months” in studying contracts for large infrastructure projects, which may cause delays in the bidding processes.

Grupo de Inversiones Suramericana SA (GRUPOSUR CB), the parent company of Colombia’s largest bank, rose 0.3 percent to 31,100 pesos.

The company said the International Finance Corporation has approved plans to participate as a “co-investor” in Suramericana’s acquisition of Latin American assets of ING Groep NV. Sura said the IFC’s participation will be as much as $200 million, according to a regulatory filing late yesterday.

--Editors: Glenn J. Kalinoski, 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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