EQUITIES: Bancolombia sold 44m shares in local market - IFR

NEW YORK, Jan 20 (IFR) - Bancolombia announced through the local regulatory agency today it sold some 44m of 64m shares meant to be issued at COP27,180 per preferred share, according to a SEC filing. The remaining 20m shares will be offered in the form of American Depository Receipts (ADRs) on the New York Stock Exchange. Bancolombia was one of the co-investors in GrupoSura?s acquisition of ING?s Latin American assets, and has raised USD638m of the some USD900m needed to participate in the equity sale, according to a local Colombian banker associated with the deal. The shares will trade on the New York Stock Exchange under the ticker ?CIB.? The preferred shares in Colombia trade on the Bolsa de Valores de Colombia

under ?PFBCOLOM.?   (Joan.Magee@thomsonreuters.com)

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