Bloomberg News

Colombia Stock Movers: Helm Bank and Canacol Energy Were Active

April 09, 2012

The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses, and prices are as of 3 p.m. local time.

The IGBC Index (IGBC) fell 0.3 percent to 14,900.33 while the Colcap Index (COLCAP) rose 0.1 percent to 1,744.02.

Helm Bank SA (PFBHELM) (PFBHELMB CB), a Colombian lender, soared 16 percent to 460 pesos, its biggest gain since the stock started trading in December 2007.

An announcement on the sale of the Bogota-based bank will be made this week, El Tiempo newspaper reported today, citing people it didn’t identify. Helm President Carmina Ferro didn’t return a phone call from Bloomberg News seeking comment. In a February interview, Ferro said controlling stakeholders have no intention of selling.

Canacol Energy Ltd. (CNE) , the Calgary-based oil company that operates fields in Colombia, climbed 6 percent to 1,415 pesos.

Exxon Mobile Corp. agreed to spend as much as $50 million to explore for shale oil in Colombia with Canacol, according to an April 4 statement. The accord would give Exxon half of Canacol’s 40 percent stake in a contract allowing it to explore and produce fuel in the VMM 2 block in Colombia, according to the statement.

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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