Contour Launches Colombia IPO

ContourGlobal LatAm has launched a COP273bn ($143m) IPO, the first such transaction from an issuer in one of the region’s large markets since July. The power generator with assets in Colombia and Brazil is offering 27.6m shares, or about 28% of itself, at COP9,900 each, in a sale period open through December 5. The issuer, part of US-based ContourGlobal, is raising funds to develop projects. The company’s main operating assets include a stake in the Termopaipa and Termoemcali power plants in Colombia, as well as a wind farm and two hydroelectric projects in Brazil. Bancolombia and Corredores Asociados are managing the sale.