October 18, 2021 |
Colombia’s state-owned oil company Ecopetrol said Friday that it received approval from financial regulator Superfinanciera to carry out a share sale on the local stock exchange, according to a securities filing.
Ecopetrol could sell 4.36 million shares to lower the government's stake to no less than 80% over the next five years, it said in the filing. Colombia's finance ministry and state-owned entities currently own 88.5% of the oil company.
"Any public offering of common stock under the progr
Colombia's state-owned oil company gets permission from Superfinanciera to sell 4.36 mln shares and lower the government's stake to 80%