Bogota, July 14, 2015 – ETB, Bogotá’s telecommunications company, has named Credicorp Capital Colombia, S.A. to serve as a market maker in the BVC (Bolsa de Valores de Colombia), Colombia’s primary stock exchange. ETB, seeks to make its shares more liquid and attractive to investors, and grow its presence in the stock market.
The strategy aims to increase share liquidity, which may boost share price, return to to Colcap (the index of the most heavily traded shares of Colombia), and to take a greater share of real estate on the trading screens of brokers, investors and traders active in the BVC, attracting more attention of domestic and foreign investors.
“ETB achieved a new milestone in its transformation that proves today it is a solid, profitable and competitive company. This designation of a market maker is an important step in the strategic plan of the company that belongs to all Colombians,” said ETB chairman Saul Kattan (above photo).
According to ETB, shares of ETB become the third in Colombia to utilize a market maker (Formador de Liquidez) in the BVC. At this time, the only others are the iColcap ETF (Exchange Traded Fund), and the shares of the BVC itself. From October 1, 2013 to July 1, 2015, ETB stock rose 33.08%, while the Colcap decreased in value by 25.28% over the same period. Colcap will provide liquidity using its own funds.