Isagen Sale First-round Brings In $229m

Colombia’s government has pulled in $229m (473m pesos) from the first round of its privatization of power generator Isagen, which it put on the block for the country’s “social groups” at the end of February, in accordance with Colombia’s privatization laws. The government is hoping to capture around $262 million via the IPO of 20%, or 2.44 million shares, of Isagen, more than double its original estimate. It had set a minimum price per share of 1,130 pesos ($0.50). A second round of the share sale will open on June 2 and will be open to local and foreign investors alike.