Fabricato Report Puts Shares 24 Percent Below Last Price

Fabricato SA, a Colombian textile maker, published a report today stating that its shares have a value at least 24 percent below the last price in November, when trading was suspended.

Regulators had required Medellin-based Fabricato to hire an independent firm to estimate the stock’s value as a condition for trading to resume. Now that the report is out, the shares can start trading on March 1, Colombia’s financial regulator said today in an e-mail.

The stock was suspended after it fell 21 percent on Nov. 16, the biggest drop in fifteen years. The company had become the target of a control bid by an activist investor group financed by Interbolsa SA, according to Pablo Munoz, the Colombian official overseeing the liquidation of the financial firm.

Bogota-based Interbolsa was seized by the government after its brokerage firm, formerly the country’s largest, collapsed last year.

The shares have a value of 35 to 55 pesos each, according to the report by the Medellin-based investment bank SBI Banca de Inversion SA. SBI’s valuation doesn’t include any premium investors might assign to the company as a potential takeover target, according to the report.

The stock last changed hands at 72 pesos before trading was suspended in November, according to data compiled by Bloomberg.

Fabricato told the investment bank that it isn’t currently in talks for a possible sale, according to the report.

To contact the reporter on this story: Christine Jenkins in Bogota at cjenkins28@bloomberg.net

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