Colombia’s state-owned oil company Ecopetrol received approval from Superfinanciera, a financial regulator to carry out a share sale on the local stock exchange to lower the government’s stake in the company. Ecopetrol could sell up to 4.3mn shares to lower the government’s stake to 80% over the next five years. Currently, Colombia’s finance ministry and state-owned entities own 88.5% of the company. Ecopetrol added, “Any public offering of common stock under the program will be subject to, among other considerations, favorable market conditions.”
Ecopetrol’s USD bonds were trading slightly up with its 4.125% 2025s up 0.19 to 104.75, yielding 2.59% and its 5.875% 2045s up 0.74 to 103.989, yielding 5.57%
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