The shares of BAC Holding International will start to be traded on the Stock Exchange tomorrow.

It is reported via a bulletin that BAC Holding International has met the requirements for registration of common stock and will be listed on the Colombian Stock Exchange (BVC) from tomorrow.

Types listed on the exchange would be ordinary with a reference price of $291 each, a face value of $263.9 and an equity value of $306.5.

The merger of Sociedad Beneficiaria Bogotá SAS, Sociedad Beneficiaria Aval SAS and BAC Holding International Corp, scheduled for today, is subject to completion.

On March 16, Grupo Aval and Banco de Bogotá asked BVC to suspend its shares due to the need to improve the separation process of its Panama-based subsidiary, Leasing Bogotá SA Panama (LBP). The titles will continue to be listed on the exchange next Wednesday, March 30.

BVC has published operating instructions stating the procedure. First, the distinction between Banco de Bogotá and Sociedad Beneficiaria Bogotá became influential, and in parallel, the split between Grupo Aval and Sociedad Beneficiaria Aval took place. After these moves were finalized, the merger of BAC Holding International Corp and the beneficiary companies Bogotá and Aval took place.

Sharon Vargas, a market analyst at Itaú Comisionista de Bolsa, assured that they are “in the final stage of this transaction. According to the latest results, they stated that they hope to complete the process by the end of this month. The demand in question has been preemptively made, avoiding any speculation about the species.” .

Shares of Banco de Bogotá fell 0.52% to $68,200 on the last trading day, down 2.84% so far this year. It closed with a 7.14% decline last year.

As for Grupo Aval, preferred paper fell 1.17% to $1,006 on March 18 before being suspended. The same is down 5% so far this year and has lost 11.30% in 2021. As for ordinary types, it fell 2.91% to $1,000 in 2022 and 8.74% from last year.

Source: Lare Publica


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