Bloomberg News

Colombian Stocks: Avianca Taca, Fabricato, Aval, Mineros

January 26, 2012

Jan. 26 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:14 a.m. local time.

The IGBC Index gained 1 percent to 13,792.79, while the Colcap Index rose 0.5 percent to 1,610.95.

Avianca Taca Holding SA (PFAVTA CB), the owner of Colombia’s largest airline, rose 1.6 percent to 3,835 pesos.

The company agreed to purchase 51 jets made by Airbus SAS as it expands service in Latin America, according to a regulatory filing.

Fabricato SA (FABRI CB), Colombia’s biggest textile maker, rose 2.2 percent to 92 pesos. The company said it paid down its debt under Colombian bankruptcy law to 1.9 billion pesos ($1 million), according to a regulatory filing today.

Grupo Aval Acciones y Valores SA (PFAVAL CB), Colombia’s biggest banking group by assets, sold $600 million of five-year dollar-denominated bonds to yield 5.375 percent, according to data compiled by Bloomberg. The preferred shares rose 0.4 percent to 1,185 pesos.

“They proved successful in tapping international markets, signaling a good beginning for international issuances,” Pedro Ospina, analyst at Interbolsa SA, Colombia’s biggest brokerage, said in an e-mailed note to clients today. “We expect to see similar issuances from other local companies abroad in 2012.”

Mineros SA (MINEROS CB), Colombia’s largest gold producer, rose 0.4 percent to 5,000 pesos after the company said it bought 11 percent of Canadian mining company Quia Resources Inc.

Mineros has the option to increase its stake in Quia, which is exploring for gold in Colombia, to almost 15 percent, according to a statement distributed yesterday by e-mail in Bogota.

--Editors: Glenn J. Kalinoski, David Papadopoulos 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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