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Monday, August 22, 2011

Colombian Stocks : Banco Davivienda SA, Ecopetrol SA, ETB

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 0.8 percent to 13,050.58, while the Colcap Index gained 0.2 percent to 1,576.18.

Banco Davivienda SA (PFDAVVND) , Colombia’s third-biggest bank, rose 0.3 percent to 20,780 pesos.

The bank will offer to sell as much as 500 billion pesos ($281 million) of bonds in the local market on Aug. 24.

Davivienda will offer 22-month securities linked to the IBR interbank rate and 43-, 85 and 126 month debt linked to inflation.

The Bogotábased bank had initially planned to sell peso bonds Aug. 10 and delayed the offer because of the turmoil in global markets.

Ecopetrol SA (ECOPETL CB), Colombia’s largest oil company, rose 1 percent to 3,645 pesos.

Colombia’s Finance Minister Juan Carlos Echeverry said Aug. 19 the government has no plan to sell its shares this year in Ecopetrol SA (ECOPETL), the state run oil producer.

The sale is separate from a stock sale by Ecopetrol that ended Aug. 17.

The company said it will release the results of that sale early this week, according to an Aug. 18 emailed statement.

Empresa de Telecomunicaciones de Bogota (ETB) SA, the phone company serving Colombia’s capital, rose 0.6 percent to 540 pesos.

ETB’s deputy director Mario Conteras Amador will replace Fernando Carrizosa as acting head of the company until a permanent replacement is named, acting mayor Clara Lopez told Radio Santa Fe.

Carrizosa, the president of the company, resigned on Aug. 19, according to a regulatory filing from the company.

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