Bloomberg News

Colombian Stock Movers: Bolsa de Valores de Colombia, Ecopetrol

February 02, 2012

Feb. 2 (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 gained 0.3 percent to 13,918.23, while the Colcap Index rose 0.5 percent to 1,642.73.

Bolsa de Valores de Colombia SA (BVC CB), the operator of Colombia’s main stock exchange, rose 1.7 percent to 29.1 pesos, a two-month high.

The number of Colombian equity offerings will likely match last year’s record eight deals as businesses fund expansions to tap the fastest economic growth in nearly five years, Juan Pablo Cordoba, president of the company, said in an interview.

Ecopetrol SA (ECOPETL CB), Colombia’s largest oil company, rose 1.6 percent to 4,700 pesos.

The company’s Cartagena refinery will borrow $591 million from a group of banks to help finance an expansion to more than double its capacity by 2014.

Reficar, as the Cartagena-based refinery is known, probably will tap the funds over the next two years, refinery Chief Executive Officer Orlando Cabrales said today in an interview in Cartagena.

--Editors: Marie-France Han, Richard Richtmyer

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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