Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Cemargos Planning to Sell Up to 250 Million Preferred Shares

Feb. 26 (Bloomberg) -- Cementos Argos SA, Colombia’s largest cement maker, is planning a preferred stock sale that will include as many as 250 million shares, Chief Executive Officer Jorge Velasquez said.

“We’re watching developments in the market, and depending on that we’ll determine the best moment to launch the eventual offer,” Velasquez said today on a conference call with investors.

Cemargos is seeking to raise cash through its initial sale of preferred shares to “increase the company’s financial flexibility to allow it to maximize growth opportunities,” Velasquez said. The board will determine the final size of the offering, he said.

The company’s common shares fell 0.9 percent to 9,400 pesos at 1:40 p.m. in Bogota and have dropped 10 percent since Feb. 15, when the company said it was planning to sell preferred shares in local and international markets.

Cemargos has 1.2 billion common shares outstanding, according to data compiled by Bloomberg.

To contact the reporters on this story: Christine Jenkins in Bogota at

To contact the editor responsible for this story: David Papadopoulos at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.