Bancolombia raises $1.3bn from follow-on as investors scrabble for shares

Bancolombia raises $1.3bn from follow-on as investors scrabble for shares

Equity

Bancolombia is set to raise nearly $1.3bn from its equity follow-on, pricing the deal above the guidance range on Monday after drawing an order book that was close to 3-times subscribed. The success marks a rare positive turn for LatAm equity markets, which have struggled this year with several companies pulling planned transactions on low demand. Bancolombia said Monday it would price the shares at COP24,200 ($11.78) each, above the COP21,350 to COP23,200 guidance range it set in January. Inves

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