Davivienda FO Demand Tops $370m

Colombia’s Banco Davivienda has seen orders reach COP716bn ($373m) in its equity follow-on, reaching close to the upper end of the COP480bn-COP800bn it is authorized to raise during the sale period ending November 10. Details on final allocations and size will be released by the end of the month. Davivienda launched the FO October 20, offering 20m-40m shares at COP20,000 each. The bank is raising funds to grow and keep up with the expansion of other Colombian FIGs. It has its eyes on operations in other countries including Peru, and an eventual ADR listing and 144a bond offering. Corredores Associados is managing.