Colombian Stock Movers: Grupo Odinsa Rises; Rubiales Falls
The following companies had unusual price changes in Bogota trading. Stock symbols are in parentheses and prices are as of 1:31 p.m. New York time.
The IGBC Index fell 0.5 percent to 15,364.74, while the Colcap Index dropped 0.6 percent to 1,826.70.
Grupo Odinsa SA (ODINSA CB), the Bogota-based engineering and construction company, rose 1.2 percent to 7,800 pesos. The Inter-American Development Bank approved a loan of $165 million for the remodeling of the Eldorado airport in Bogota by operator Opain S.A., owned by Grupo Odinsa, reported Colombian newspaper La Republica.
Pacific Rubiales Energy Corp. (PREC CB) decreased 2 percent to 59,580 pesos. The Toronto-based oil producer that operates fields in Colombia fell for a second day after Pacific Coal SA said it will acquire Vega Resources Inc. in a reverse takeover.
Vega will buy all the shares of Pacific Coal in a transaction that will give Pacific Coal’s current shareholders, including Pacific Rubiales, control of Vega, which currently has minimal operational activity, according to Canadian Press.
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