Colombia’s Colcap index dropped 1.92% today as it followed in the footsteps of a brutal day in European markets. Markets were closed in the States and Canada leading to lower volume in local markets as an anemic COP$52.2 billion was traded today.
Exito announced the launch of its secondary share offering. More than 114 million new shares will be issued at COP$21,900, representing 25.5% of total shares outstanding upon completion of the issuance. Exito is looking to raise COP$2.5 billion (or roughly US$1.4 billion). The funds are being used for the purchase of Disco and Devoto, chains located in Uruguay, for US$746 million as well as accelerating plans to grow the business locally and internationally.
Economic news this week will include CPI figures later today, exports (09/05), home mortgage figures (09/08), and general housing figures (09/09).
The peso closed at 1,783.00.
