Bloomberg News

Colombian Stock Movers: Grupo Suramericana, Cementos Argos

November 24, 2011

Nov. 24 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 11:47 a.m. local time.

The IGBC Index was little changed at 12,154.04, while the Colcap Index declined 0.1 percent to 1,495.27.

Cementos Argos SA (CEMARGOS CB), Colombia’s biggest cement maker, gained 0.5 percent to 9,980 pesos. The company said its shareholders approved spinning off assets that aren’t related to cement production to parent company Inversiones Argos SA.

The plan, initially announced Oct. 26, is subject to approval from regulators and shareholders of Inversiones Argos, the company said in a filing late yesterday.

Grupo de Inversiones Suramericana SA (GRUPOSUR CB), the parent company of Colombia’s biggest bank, rose 0.3 percent to 30,000 pesos. Bancolombia SA will be a co-investor in Sura’s acquisition of ING Groep NV’s Latin American assets with a participation of $150 to $300 million, Bancolombia President Carlos Raul Yepes told reporters today.

--Editor: 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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