The Colombian company Grupo de Inversiones Suramericana will list on LATIBEX on February 28th, once it is authorised by the LATIBEX Committee to list its shares on the market. It is the first Colombian company to list on LATIBEX.
Grupo de Inversiones Suramericana is the fourth largest Colombian company by market capitalisation (€6.35 billion as at January 31st). The company’s investments are divided into two main areas: a Strategic Portfolio, which comprises investments in the financial, insurance and social security sectors and the second, called Portfolio Investment, which comprises investments in the power, food and cement sectors.
With this incorporation LATIBEX adds a new country, Colombia, to its list of represented countries, in this way increasing its geographic footprint and allowing investors to diversify their portfolios. With this company, there are currently 34 stocks from 6 countries on the LATIBEX market (Argentina, Brazil, Chile, Colombia, Mexico y Peru), which consolidates itself as the third largest market for Latin American stocks, with a capitalisation of €540 billion.
The FTSE LATIBEX Top benchmark, which comprises the main stocks listed on the market, increased by 8% in 2010.
The company’s shares will be listed in trading units of 1 share under the code XGSUR.
On February 28th David Bojanini García, Chairman of Grupo de Inversiones Suramericana, will present the company to investors, analysts and the media and will do the traditional bell ringing on the stock exchange trading floor, in this way marking the start of trading in the company’s shares.