Bloomberg News

Colombia Stock Movers: Grupo Sura, Bancolombia, Canacol Energy

December 29, 2011

Dec. 29 (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 0.6 percent today and 18 percent this year to 12,665.71, while the Colcap Index declined 1.1 percent today and 14 percent this year to 1,571.55. With markets closed tomorrow in Colombia, today is the last trading day of 2011.

Grupo de Inversiones Suramericana SA (GRUPOSUR CB), the parent company of Colombia’s biggest bank, fell 2.7 percent to 31,100 pesos. The company said in a statement today that it closed the agreement to purchase Latin American assets from ING Groep NV for $3.61 billion.

Bancolombia SA (PFBCOLO CB) fell for a third day, sliding 3.1 percent to 27,620 pesos, after Colombia’s biggest lender said in a Dec. 27 filing 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, climbed 5.1 percent to 1,335 pesos, the highest in six weeks. The company completed the drilling of the third oil well it planned in 2011 in the Rancho Hermoso field, according to a statement yesterday distributed by Marketwire.

--Editors: Brendan Walsh, Richard Richtmyer

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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