Bancolombia board approves follow-on

Bancolombia board approves follow-on

Bancolombia’s board on Thursday approved the terms of a local follow-on which the lender first signaled in November. The bank plans to sell 110m preferred shares, which would raise COP2.4tn ($1.2bn) at Thursday’s COP21,800 closing price. The bank reported a 10.1% capital ratio at the end of the third quarter. The bank did not indicate possible timing for the transaction. The approval follows shareholders’ agreeing in March a platform to sell up to $2.4bn in preferred shares through multiple tran

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial