Bloomberg News

Colombian Stocks: Exito, Sura, Valorem, Ecopetrol, Rubiales

June 27, 2012

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

The IGBC Index (IGBC) increased 2.2 percent to 13,425.65 while the Colcap Index rose 2 percent to 1,626.87.

Grupo de Inversiones Suramericana SA (GRUPOSUR CB) may have the third-biggest weighting on the Colcap index in a rebalancing effective July 1, up from fourth place, according to a statement on index changes the Bolsa de Valores de Colombia SA sent yesterday. Almacenes Exito SA (EXITO) may jump four spots to fourth place.

Exito, the largest publicly traded retailer in Colombia, gained 1.1 percent to 28,480 pesos.

Grupo Sura, Latin America’s largest private pension-fund manager, climbed 3.8 percent to 30,380 pesos.

Valorem SA (VALOREM CB), a Bogota-based holding company, jumped 26 percent to 390 pesos. Valorem said investment bank MBA Lazard valued the company at 625.17 pesos per share in a regulatory filing late yesterday. Valorem plans to receive stakes in companies including Caracol Television SA, Suppla SA, Biofilm SA, Comunican SA and Inversiones Cromos SAS from its majority shareholder Invernac & Cia, according to the filing.

Pacific Rubiales Energy Corp. (PREC) , which operates the country’s largest oil field, rose the most since April 11, adding 4.9 percent to 39,000 pesos. The company expects to receive an environmental license that will enable it to expand output at a Colombian oil field as early as this week, Chief Executive Officer Ronald Pantin told reporters in Santiago yesterday.

Other oil producers gained as crude rose to a one-week high in New York.

Ecopetrol SA (ECOPETL) , the country’s largest oil company, gained 1.3 percent to 4,970 pesos. Canacol Energy Ltd. (CNEC) , the Calgary-based oil company that operates fields in Colombia, jumped 3.5 percent to 857 pesos.

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

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


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