Ecopetrol will hold another auction for its shares in Interconexión Eléctrica S.A. ESP (ISA) on December 14. This the fourth auction, in what it is calling the second stage of its divestment plan of these holdings, is being held to get rid of the shares that have still not been sold.
The public offering will take place prior to the beginning of common stock trading in Colombia’s stock exchange Bolsa de Valores de Colombia. It will be held in line with the provisions set forth in the state-controlled oil giant’s previously released stipulations.
Ecopetrol’s equity divestment plan was approved by the government of Colombia in September 2015.