Banco Industrial Colombiano ADR NYSE:CIB Message Board

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Non-Tech : Banco Industrial Colombiano ADR NYSE:CIB

CIB 58.04

+0.3%

Oct 31 9:30 AM EST

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To: Arnold Layne who wrote (1)	2/27/1998 10:33:00 PM
From: Arnold Layne	Read Replies (1) of 72

Look like the Colombian markets are not fashionable at the moment, which suggests that they might be undervalued. Here is an interesting story which might confirm that view: Celumovil SA <CVL.N> IPO postponed -- underwriter NEW YORK, Feb 27 (Reuters) - Columbia's largest provider of cellular phone services, Celumovil SA <CVL.N>, had to postpone its debut on the New York Stock Exchange Friday according to the lead underwiter of the $177 million deal. Salomon Smith Barney said that the offering was "postponed due to market conditions," but delined to be more specific about when the company would go public. Celumovil plans to offer 9.4 million American Depository Shares, each representing two common shares for between $14 and $16 each. The ADSs are part of a combined global offering that includes 4.7 million ordinary shares issued to Colombian markets and 3.75 million ADSs issued to international markets other than the United States. 13:17 02-27-98 Hope that that helps.

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