Surinversiones Eyes Roadshow

Colombia’s Suramericana de Inversiones could launch a road show for its ADRs later this year if the market shows signs of stabilizing, CEO David Bojanini tells LatinFinance. The ADRs were initially launched in October, but due to the global financial crisis, were not actively promoted to investors, he explains. “The idea was to let the ADRs evolve slowly, but we have already seen interest from international investors,” Bojanini says. He adds that the company is indirectly advertising ADRs to investors during international banking events. “We attend these events some five or six times a year,” says the CEO. The ADRs, each equivalent to two common shares, trade OTC under the symbol SRMIY. Since October, says the company, some 6,300 ADRs have been traded. When first launched, they traded at $13.79. The closing price March 4 was $11.81, unchanged on the day. The Bank of New York Mellon is the depository bank for the ADRs. Fiduciaria Bancolombia is the custodian.