Market prepares to know start of OPAs

Once the approval of the Financial Superintendence has been given and the guarantees to support the Public Acquisition Offers (OPA) have been accredited, the Colombian market is preparing for Jaime Gilinski to notify the start of the two new rounds in which he will seek to buy more shares of Sura and Nutresa.

The Colombian Stock Exchange (BVC) notified on Thursday night that, in compliance with regulations, the banker from Cali had accredited the aforementioned guarantees; which allows us to infer that, most likely, he will have the green light to carry out the new offers.

I know Cardona is being confirmed today and there are a lot of very important topics to tweet about, but I just nee… https://t.co/qnGqeOG8Z8

— Geri Chaffee Wed Feb 03 19:48:10 +0000 2021

Gilinski will go for a minimum of 5% of the floating shares of Sura and 18.3% of the representative titles of Nutresa. For this, precisely, the bidder explained that the guarantees for each will be US$115.6 million and US$560 million, respectively.

Meanwhile, yesterday marked the 15th day since trading in floating Sura shares was suspended due to the announcement of the new offers. Therefore, the start of this new transfer cycle could be notified at any time, since that was the same period that the market waited to know the official start of the past takeover bids.