Exito Shows Colombian Equity Insulation
Colombia’s Grupo Exito got 1.7x demand for its COP2.502trn ($1.40bn) equity follow-on, in a sale that points to Colombia’s relative insulation against the volatility in the broader equity markets. The blue-chip retailer closed its sale period Friday and announced allocations Tuesday, having given the COP21,900 per-share price for the 114.27m shares at launch 3 weeks ago. That the price represented an 8% discount to the COP23,800 average price over...
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