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This Thursday began the second phase of the sale of the shares of Grupo Energía de Bogotá, with which the district will democratize 20% of the company. Through this process, the district administration will receive about $ 3.7 billion for its programs.
The process comes at a time when the local capital market is demanding more movement. And even if it's an issuer that already exists, there will be more shares outstanding, which will help to have more cash.
(Read: The second phase of selling GEB shares begins).
The offer of this second stage will target residents and non-residents in Colombia who have an interest in submitting a purchase order to acquire the securities.
The minimum sales and buyer base was established in 5,000 shares per purchase order (approximately $ 10,090,000 with the current base price). In addition, the person or persons may place purchase orders only at a price equal to or greater than the base price or the price of the award.
Similarly, the amount of the documents to be attributed to Orders to Buy, together they can not exceed more than 432 million.
The second stage of the democratization process will be developed through the so-called "offer book" formula, in which a search will be made the highest subscription price allows to keep the as many titles as possible in the hands of natural persons.
With the transfer, the district administration intends not only to improve its tax results and maintain control of the GEB, with 56.3%, but to obtain the billion-dollar resources mentioned in order to promote different infrastructure projects for the capital of the country.
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