Bloomberg News

Colombia Stocks: Bancolombia, Canacol Energy, Cementos Argos

December 28, 2011

Dec. 28 (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 rose 0.4 percent to 12,747.58, while the Colcap Index rose 0.3 percent to 1,589.38.

Trading is slow in Colombian markets amid the year-end holidays, according to Jorge Zuniga, an analyst at brokerage Interbolsa SA in Medellin.

Bancolombia SA (PFBCOLO CB) fell 0.8 percent to 28,500 pesos after Colombia’s biggest bank said in a filing late yesterday that its board approved the issuance of 64 million preferred shares. The company, which didn’t say when it plans the stock offering, had said in July 2009 it would sell 80 million of the shares.

Canacol Energy Ltd. (CNEC CB), the Calgary-based oil company that operates fields in Colombia, gained 7.2 percent to 1,270 pesos, the highest in five weeks. The company completed the drilling of the third oil well it planned in 2011 in the Rancho Hermoso field, according to a statement today distributed by Marketwire.

Cementos Argos SA (CEMARGOS CB), Colombia’s biggest cement maker, rose 0.6 percent to 10,860 pesos. Gray cement sales in Colombia increased 14 percent in October from a year ago, the national statistics agency said in a report yesterday.

--Editors: Brendan Walsh, Marie-France Han

To contact the reporter on this story: Andrea Jaramillo in Bogota at ajaramillo1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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