Books build for Bancolombia follow-on

Books build for Bancolombia follow-on

Equity

International investors are heard to have placed around $250m of orders for Bancolombia’s follow-on equity offering. The Colombian lender is selling 110m preference shares, which could raise as much as COP2.55trn ($1.24bn) if it is priced at the upper range of COP21,350 to COP23,200 per share guidance. The deal is heard to be close to three-quarters subscribed at the mid-point of that range, with strong participation from pension funds. Grupo Sura, which owns 26.8% of the bank, has said it will

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