Colombian Stock Movers: EEB Declines; Petrominerales Advances

The following companies are having unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 10:16 a.m. local time.

The IGBC Index (IGBC) rose 0.3 percent to 13,541.67, while the Colcap Index gained 0.1 percent to 1,608.32.

Empresa de Energia de Bogota SA (EEB CB), Colombia’s second-biggest electricity distributor, fell 2.4 percent to 1,035 pesos.

Prosecutors may investigate Bogota Mayor Gustavo Petro, who is on the company’s board of directors, after lawyer Jaime Granados accused Petro of allegedly triggering a three-day plunge last month of the company’s shares when he announced plans to merge it with other public companies, Caracol radio reported yesterday. The country’s securities regulator suspended trading of the stock last month after it fell 17 percent in three days.

A spokesperson at the prosecutor’s office did not respond to phone calls and an e-mail seeking comment.

Petrominerales Ltd. (PMGC) (PMGC CB), a Calgary-based company that explores for and produces oil in Colombia, rose 1.7 percent to 36,500 pesos.

The company announced that it paid Colombia shareholders a fourth-quarter dividend worth C$0.125 per share, according to a Jan. 20 regulatory filing.

To contact the reporter on this story: Blake Schmidt in Bogota at bschmidt16@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.