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Friday, May 20, 2011

Colombia Stocks : Bancolombia, Canacol, Fabricato Rise

The following companies had unusual price changes in Bogota trading.

Stock symbols are in parentheses and prices are as of 4 p.m. New York time.

The IGBC Index rose 0.1 percent to 14,129.43, while the Colcap Index gained 0.3 percent to 1,710.5.

Bancolombia SA (BCOLO) , Colombia’s biggest lender, rose 1.7 percent to 29,180 pesos. Leasing Bancolombia SA, the company’s leasing arm, plans to sell as much as 500 billion pesos ($275 million) of bonds in the local market on May 25.

The Medellin-based financial company will initially offer 350 billion pesos of securities, Serfinco SA brokerage, which is helping manage the sale, said in a report today.

Leasing Bancolombia will offer 5-year and 10.5-year fixed- rate bonds, 10-year inflation linked securities, 2 year debt tied to the DTF interbank rate and 1.5 year and 3 year bonds linked to the IBR interbank rate, Serfinco wrote, citing “preliminary” plans.

Canacol Energy Ltd. (CNE) , the Calgary-based oil company that operates fields in South America, gained 0.7 percent to 2,130 pesos.

The American Petroleum Institute reported that fuel consumption increased in April as economic growth bolstered demand for diesel by truckers.

Fabricato SA (FABRI CB), Colombia’s largest textile maker, rose 6 percent to 53 pesos, its highest close since 2007, after the company said in a regulatory filing late yesterday it paid off most of its debts.

Fabricato, which is preparing to emerge from bankruptcy, has surged 97 percent this year, the biggest gain among companies on Colombia’s Colcap Index.

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