Aval Opens Follow-on

Aval Opens Follow-on

Colombia Equity

Colombia’s Grupo Aval has opened the subscription period for an equity follow-on targeting COP2.41trn ($1.25bn), according to regulatory documents. The financial group is offering 1.86bn common shares at COP1,300 each through January 9. Existing holders will be allowed to subscribe 0.14 shares per share held, and are expected to make up a large part of the sale. This is seen as driving the issuer’s choice to not use the SEC process for which it registered earlier this year, and opt for a more ea

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