Colombian stocks declined Friday, pulled lower by a drop in shares of Grupo Nutresa S.A. after the food company launched a public share offering at a fixed price below its trading price.
The IGBC index, considered the market’s benchmark, fell 0.12% to close at 14406.57 points. So far in 2011, the index is down 7%.
Shares of Nutresa, Colombia’s largest food processor, fell 3.69% to close at COP23,000 ($12.90). The company on Friday offered 25 million ordinary new shares at a price of COP20,900.
The peso, meanwhile, weakened slightly to close Friday at COP1,777.40 to the dollar from COP1,771.50 a day earlier.
The yield on the peso-denominated local bond known as TES due in 2020 stood at 7.855% at the close after opening at 7.790%.