On the first day of trading, the price of Avianca Taca shares began at $2.80 and ended Tuesday at $3.21, after reaching a high of $3.35, reported economic website Portafolio.
The owner of Avianca, German Efromovich is pleased with the public issue of the airline. He said that 12,000 people wanted to purchase shares but could not but now have the opportunity to do so through the Colombia Stock Exchange. He added that speculators will be disappointed.
Shares purchased through the Colombia Stock Exchange will be more expensive than those offered at tender which were sold for $2.80 per share.
Public offered shares of Grupo Aval, which will begin trading Thursday, were also oversubscribed. Market observers estimate that the shares will increase in value by 10%. The Aval shares were sold for $0.73 each.