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Tablemac Rises on Bets Stock to Remain in Colcap: Bogota Mover

Jan. 18 (Bloomberg) -- Tablemac SA jumped the most among Colombian stocks after Bancolombia SA, the country’s largest bank, said the wood-products maker may qualify to stay in the benchmark Colcap index.

Tablemac, based in Medellin, gained 4.4 percent to 7.62 pesos at the close in Bogota trading. The Colcap, which currently includes 21 stocks determined by the Colombian stock exchange, gained 0.6 percent.

The company won’t be replaced in the next Colcap rebalancing, Bancolombia said in a report without providing further details. The next re-weighting of the index will be after the close of trading on Jan. 31, according to a statement last month from the stock exchange.

Shares of Tablemac had tumbled earlier in the week as the brokerage Corredores Asociados SA said Jan. 16 that Tablemac and two other companies might be dropped from the index.

The stocks are weighted based on their “adjusted market cap value,” according to the exchange.

Cemex Latam Holdings SA, a cement company that Bancolombia sees joining the Colcap, has gained 11 percent this year.

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

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