Bloomberg News

Colombian Stock Movers: Empresa de Energia, Banco de Bogota

December 13, 2011

Dec. 13 (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 fell 1.3 percent to 12,606.51, while the Colcap Index fell 0.3 percent to 1,568.09.

Banco de Bogota SA (BOGOTA CB), Colombia’s second-biggest bank, rose 0.6 percent to 48,100 pesos after it sold $600 million of five-year bonds in overseas markets yesterday.

The lender sold the 5 percent dollar-denominated securities to yield 5.25 percent, according to a filing yesterday on the financial regulator’s website. Banco de Bogota, which had initially offered to sell $500 million of the bonds, said investor demand totaled more than $3.2 billion.

Citigroup Inc., HSBC and JPMorgan Chase & Co. managed the sale.

Empresa de Energia de Bogota SA (EEB CB), Colombia’s second-biggest electricity distributor, gained as it resumed trading after a three-day suspension following a plunge. Shares of EEB, as the city-run company is known, gained 1.4 percent to 1,065 pesos.

Colombia’s securities regulator suspended trading of the shares Dec. 7 following a 17 percent plunge over the three days after Gustavo Petro, mayor-elect of the country’s capital, said he would seek to merge the electricity company with other city- controlled utilities.

“Petro seems to have taken on a more conciliatory tone, the company has given the market new information about its financial state and the trading suspension has given the market some time to analyze what has happened,” said Santiago Melo, an analyst at Alianza Valores SA.

--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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