Colombia’s state-controlled oil company
Ecopetrol SA ECO.CN on Friday filed with U.S. regulators to
register 20 million American depositary shares at a maximum
aggregate price of 5 cents each.
Each American depositary share represents 20 ordinary
shares of Ecopetrol, the company said in a filing with the U.S.
Securities and Exchange Commission.
JP Morgan Chase Bank is the depository bank for Ecopetrol.
The company, which expects to list its shares on the New
York Stock Exchange by the fourth quarter, had raised $2.8
billion last November in its initial public offering in
Colombia.
Shares of the company were trading at 2,695 pesos after
touching a session high of 2,795 pesos on Colombia’s stock
market. (REUTERS)