Isagen IPO Set For End-Feb

Colombia’s government will start to sell off its 20% stake in power generator Isagen via an IPO on February 28, reports Dow Jones. The government has set a minimum price per share of 1,130 pesos ($0.50) and is hoping to capture around $262 million from the sale. Last year, the company succeeded in swapping a large part of its US dollar debt for local-currency debt, thereby reducing its exposure to exchange-rate fluctuations. The government is hoping to emulate the path taken by state-controlled electricity distributor Interconexión Eléctrica SA (ISA), which was partially privatized in 2000 and which has become a key regional player in the sector, expanding into Panama, Peru, Ecuador, Bolivia and Brazil.