Ecogás Sale Underway

Meantime, the delayed sale of Colombian state-owned gas distributor Empresa Colombiana de Gas (Ecogás) finally got underway yesterday, Monday, with the publication of details of the IPO on offer to Ecogás-affiliated workers and pensioners. The IPO comprises 75 million shares of the newly formed Transportadora de Gas del Interior (TGI) on offer at a price of 10,000 pesos per share. A second tranche of shares will be offered to the public if any remain after the IPO. The sale of Ecogás will bring to an end the involvement of the government in the natural gas industry.