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Colombia Stocks: Biomax, ETB, Bancolombia, Banco de Bogota

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June 1 (Bloomberg) -- The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 4 p.m. New York time.

The IGBC Index fell 0.6 percent to 14,462.77, while the Colcap Index declined 0.4 percent to 1,753.64.

Biomax Biocombustibles SA (BIOMAX CB), the Bogota-based fuel distributor, rose 3.2 percent, the most in four months, to 1,775 pesos. Company President Ramiro Sanchez said it will become the country’s third-biggest fuel distributor with 14 percent of market share when it buys shares in Brio de Colombia next week, according to an interview in Portafolio yesterday.

Empresa de Telecomunicaciones de Bogota SA (ETB CB), the state-run phone company serving Colombia’s capital, fell 4.8 percent, the most in two months, to 676 pesos. Bogota city council president Maria Victoria Vargas said the council would vote on a proposal to sell the city’s majority stake in the company no sooner than July.

Colombian banks rose after Moody’s Investors Service upgraded foreign currency ratings of Bancolombia SA (BCOLO CB) and Banco de Bogota SA (BOGOTA CB) yesterday to Baa3 from Ba2.

Bancolombia, Colombia’s biggest bank, rose 1.3 percent to 29,480 pesos.

Banco de Bogota, Colombia’s second-biggest lender, rose 0.3 percent to 52,500 pesos.

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

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