Colombia state oil firm Ecopetrol said on Friday it will offer nearly $1.4 billion, or 1.67 percent of its current capital, in a share sale starting July 27.
The company will offer 675.68 million shares at 3,700 pesos ($2.10) each, with a minimum 500 share purchase.
Ecopetrol said on Thursday unconsolidated net profit in the second quarter rose 89.2 percent, driven by high oil prices and production increases.
Colombia, Latin America’s No. 4 oil producer, has seen a massive increase in oil and mining investment since a U.S.-backed crackdown against rebels dramatically improved security.