BAC Holding International’s Stock Listing and Related Corporate Movements in Colombia
A recent bulletin confirms that BAC Holding International has fulfilled the regulatory requirements to register its common stock and will begin trading on the Colombian Stock Exchange (BVC) starting tomorrow. The exchange will list ordinary shares with a reference price of 291 and a face value of 263.9, while the overall equity value is projected at 306.5 per share.
The anticipated merger involves Sociedad Beneficiaria Bogotá SAS, Sociedad Beneficiaria Aval SAS, and BAC Holding International Corp. Announcement of the merger scheduled for today indicates that completion is still pending subject to customary closing conditions.
Earlier this year, on March 16, Grupo Aval and Banco de Bogotá requested that BVC suspend trading in its shares while they work to improve the separation process of their Panama-based subsidiary, Leasing Bogotá SA Panama. Trading in the affected titles is expected to resume next Wednesday, March 30.
Operating guidance issued by BVC outlines the procedural steps. The evolving corporate structure saw a critical distinction between Banco de Bogotá and Sociedad Beneficiaria Bogotá, followed by an alignment between Grupo Aval and Sociedad Beneficiaria Aval. Once these corporate realignments were completed, the merger between BAC Holding International Corp and the beneficiary entities Bogotá and Aval proceeded accordingly.
Market analyst Sharon Vargas of Itaú Comisionista de Bolsa commented that the transaction is in its final stage. Based on the most recent results, analysts expressed optimism that the process could be wrapped up by month’s end. There is no current speculation about the specific assets involved in the deal, as sources indicate that demand has been orderly and measured.
Recent trading activity shows Banco de Bogotá shares decreasing 0.52 percent to 68,200 on the latest trading day, marking a 2.84 percent decline for the year to date. The stock also recorded a 7.14 percent drop in the previous year. Grupo Aval’s preferred paper declined 1.17 percent to 1,006 on March 18, before a trading halt, with a 5 percent fall for the year and an 11.30 percent drop in 2021. For ordinary shares, the price slipped 2.91 percent to 1,000 in 2022 and has fallen 8.74 percent since the previous year’s close.
Source: Lare Publica