Bloomberg News

Colombian Stock Movers: Canacol Energy Ltd., Valorem SA Advance

February 14, 2012

Feb. 14 (Bloomberg) -- The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 12:23 p.m. local time.

The IGBC Index gained 0.3 percent to 14,201.82 while the Colcap Index was little changed at 1,669.19.

Canacol Energy Ltd. (CNEC CB), the Calgary-based oil company that operates fields in Colombia, gained 0.9 percent to 1,635 pesos.

The company said its Carrao Energy Sucursal Colombia unit has increased its stakes in the Santa Isabel and LLA 23 contracts. The company increased its stake in Santa Isabel by 10 percent to 100 percent and in LLA by 9 percent to 80 percent, according to a statement.

Valorem SA (VALOREM CB), the Colombian holding company with interests in broadcasting and manufacturing, rose 7.1 percent to 393 pesos. The shares gained 45 percent in the past week.

Virgin Mobile Latin America and Valorem’s Cine Colombia SA unit created a partnership to attract clients for Virgin Mobile’s plan to offer cellular phone services in Colombia in the second half of 2012, according to a Feb. 2 e-mailed statement from Virgin Mobile.

--Editors: Glenn Kalinoski, Brendan Walsh

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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