Bancolombia Wants Additional Equity

Bancolombia plans to issue additional preferred shares, it says, and will put the matter to a vote March 4. There were no additional details immediately available regarding the size of timing of any planned follow-on sale. An investor relations officer did not return a request for comment. In January and February of last year, the bank raised $614m-equivalent in a Colombian domestic equity follow-on, followed by a $300m international tranche. Bancolombia’s preferred shares closed at COP30,000 on Monday.