Contour Global Pulls Colombia IPO

Contour Global Pulls Colombia IPO

Colombia Equity

Another 2011 LatAm IPO has failed Wednesday when ContourGlobal LatAm’s COP273bn ($143m) sale failed to get a minimum demand. This move comes as surprise as it was thought the Colombia market was relatively well insulated against broader global shocks. The unit of US-based energy investment company ContourGlobal had planned to sell 27.6m shares, or about 28% of itself, at COP9,900 each, in a sale period that closed Monday. Colombian regulations allow the issuer to set a minimum, which if not

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