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Daily Colombian Equities Bulletin and Fundamentals 2-10-14

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February 11, 2014 ( newswire) In the US, markets were positive as the S&P 500 increased 0.16% and the DJIA increased 0.05%. Latam markets were mixed as Bovespa in Brazil decreased 0.75% and Chilean IPSA index increased 0.45%. The local COLCAP index closed at 1484.52 pts., equivalent to a 1.00% decrease; the total traded volume reached COP 121,346 million (~59 USD MM).

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The best performers were Cemex Latam (+2.65%), Cemargos (+1.61%) and PfDavivienda (+0.92%). On the other hand, the worst performers were Enka (-5.21%), PFGrupoArgos (-3.83%) and Grupo Argos (-3.18%). The most traded shares today were PfBancolombia, Ecopetrol and Exito.

Bancolombia published today in local newspaper notice for public share offering and the conditions of non-voting preferred shares issuance. The tender offer has a non compulsory indicative price range between COP 21.350-COP 23.200/share. The bookbuilding process will last until February 28, 2014. The total amount of shares to be offered is 110 mm. It is important to highlight that Gruposura (Bancolombia´s largest shareholder – 26.4% of total shares) will participate in this offering.

Canacol Energy common shares began to trade today in the United States on the OTCQX International Premier under the symbol CNNEF.

Subject to the authorization of the Superintendencia de Industria y Comercio, Grupo Éxito closed last Saturday four agreements with “Comercializadora Giraldo Gómez y Cía. S.A”: i) To buy 19 stores “Superinter”, located in the state of Valle del Cauca and the region of Eje Cafetero, for a total amount of COP 200.000 MM (money will be funded from the equity issuance of 2011, Grupo Exito actually holds approximately COP 2 trillion in cash); ii) to operate 31 “Superinter” Stores for a period of 5 years for a total fee of COP10.000 MM per year; iii) a license to use Superinter´s brand for a period of 5 years, under a fee charge of 2% of the net sales of the stores. This fee should be paid as of the second year of the beginning of this agreement; iv) a call option whereby Grupo Exito could buy in 2015 (subject to certain conditions) the 31 stores mentioned in the first bullet) and its brands.


Corredores Asociados S.A. Comisionista de Bolsa is not responsible for investment decisions that may be derived from the information and analyses presented in this document. These decisions, their effects and consequences will be the sole responsibility of the investor. The information published is informative and has been taken from reliable sources, but Corredores Asociados S.A. does not guarantee that they are free of errors. Total or partial reproduction of this document is not allowed without the prior and express authorization of Corredores Asociados S.A.

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