Bloomberg News

Colombian Stocks: Ecopetrol, Rubiales and Tablemac Were Active

May 22, 2012

The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses, and prices are as of the close.

The IGBC Index (IGBC) rose 1.4 percent to 14,588.05, while the Colcap Index (COLCAP) increased 1 percent to 1,732.77. Colombian markets were closed yesterday for a holiday.

Tablemac SA (TABLEMA) , a wood products maker, jumped 7.8 percent to 11 pesos, the highest closing price since August 30. Duratex, a Brazilian producer of wood panels and bathroom fixtures, said it signed an agreement to buy a 25 percent stake in Tablemac for 12 pesos per share, according to a May 18 filing to the Brazilian regulator. Duratex may increase its stake in Tablemac to 46.4 percent over the next two years, the filing said.

Colombia, South America’s third-largest oil supplier, will reach 1 million barrels of production before year end, pending environmental permits for at least one “major” field, Mines and Energy Minister Mauricio Cardenas said in an interview today in New York.

Pacific Rubiales Energy Corp. (PRE) , which operates Colombia’s largest oil field, gained 2 percent to 47,200 pesos. Ecopetrol SA (ECOPETL) , Colombia’s largest oil company, advanced 1.5 percent to 5,410 pesos.

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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