Bloomberg News

Colombia Stock Movers: Interconexion Electrica, Pacific Rubiales

December 01, 2011

Dec. 1 (Bloomberg) -- The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. local time.

The IGBC Index was little changed at 12,924.52, while the Colcap Index rose 0.9 percent to 1,575.56.

Interconexion Electrica SA (ISA CB), Latin America’s biggest power line operator known as ISA, rose 2.7 percent to 10,800 pesos.

The company sold 300 billion pesos ($154.1 million) of inflation-linked bonds in Colombia, the stock exchange said in a statement today. Investor demand for the securities totaled 777 billion pesos.

Pacific Rubiales Energy Corp. (PREC CB), the Toronto-based oil producer that operates fields in Colombia, fell 1.8 percent to 40,600 pesos.

Holders of the company’s convertible debentures converted 98.9 percent of the securities into 20.5 million ordinary shares under a temporary incentive conversion rate increase that expired Nov. 29, according to a regulatory filing. The temporary incentive, which was aimed at reducing the company’s debt, may be diluting the shares, said Juan David Pineros, an analyst at Interbolsa SA.

--Editor: Glenn J. Kalinoski

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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