Investorideas.com - Daily Colombian Equities Bulletin and Fundamentals 9-1-14
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September 2, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,776points (0.32%). Total turnover reached USD 39 mm. The best performers were Canacol (+2.00%), ETB(+1.76%) and PfGrupoArgos(+1.71%). On the other hand, the worst performers were BVC (-1.20%), PfGrupoSura (-0.73%) and Pacific Rubiales (-0.60%
Fitch Ratings maintained Ecopetrol's international and local rating at 'BBB' and 'BBB+', respectively; both ratings with a stable outlook.Source: Bloomberg
Energy Sector | EEB
To address electric service problems in the north of the country, the Government approved the development of three projects of power transmission. The projects will be developed in the departments of Bolívar, Meta and Tolima, to fulfill the reliability of electricity supply. Investment amount is about USD 109.7 million between the three works, which will be operating between 2015 and 2017, according to the Government schedule. The biggest investment, USD 94.2 million, will be for the connection of Bolivar and Cartagena substations, and will be ready in March 2017. EEB will be in charge of this project. Source: La Republica
Grupo Argos said they extended until September 18, 2014 the expiration date of the loan of USD 94.5 million currently handled with BBVA. This transaction is covered by a forward contract to ensure a fixed financial cost in pesos and mitigate currency exposure. Is important to note that this operation does not constitute additional indebtedness, according to what the company said. Source: Grupo Argos
BVC | MILA
The Colombian Stock Exchange (BVC) published the amendments to the "Circular Única BVC" in order to incorporate the rules and conditions for holding primary market operations by foreign intermediaries over Colombian securities and for Colombian intermediaries on foreign securities, under the Integrated Latin American Market (MILA).Through this new tool, foreign brokers may offer more investment options to their customers using the MILA infrastructure, which is a direct benefit to the Colombian issuers as it expands the range of investors who can participate in a public offering. Similarly, this modification rules and procedures allowColombian investors, to have access to the primary issues that occur in other MILA markets such as Chile and Perú. Source: Dataifx
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To View Complete Report: Daily Colombian Equities 9-1-14
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