January 21, 2014 (www.investorideas.com newswire) The total change for Cemargos as a company will be 0.60%, since PFCemargos will increase 7.26% while the ordinary shares (6.66%) will be removed from the index.
The changes in the index composition should generate an important cash flow coming from the IColcap ETF. In the case of PFCemargos, these inflows should total COP 208,000 mm (~USD 105 mm), while Ecopetrol should receive COP 73,000 mm (~USD 37 mm). Additionally, we estimate there will be COP 190,000 million (~USD 96 mm) in outflows from Cemargos (ordinary shares), and COP 28,000 mm (~USD 14.1 mm) out of PFBancolombia. PF Avianca should receive COP 15 million (~USD 7.6 mm); however, we believe that the market has already anticipated these flows, creating a temporary rally in this last stock price.
Published at the Investorideas.com Newswire - Big ideas for Global Investors
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