BBVA Colombia Issues Ordinary Shares Worth $217.9 Million

BOGOTA – The Colombian unit of bank Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) has issued ordinary shares worth 877 billion pesos ($218 million), the Colombian stock exchange said in a statement on Tuesday.

The Colombian unit issued 3.24 billion shares for 270 pesos each in an initial tranche, the statement said, adding that a further 152.7 million shares will be issued in a second tranche at an undisclosed later date.

BBVA had trailed the issue in April, saying the money from the share issue would strengthen capital to leverage its growth in the South American country.

($1 = 4,023.92 Colombian pesos)

(Source: ReutersReuters)

Banco Bilbao Vizcaya Argentaria BBVA NYSE: BBVA

Edward Cooke

Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.

See Full Bio