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Non-Tech : Banco Industrial Colombiano ADR NYSE:CIB
CIB 57.96+0.1%3:59 PM EDT
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To: k. Urmann who wrote (25)4/4/1998 1:48:00 AM
From: Arnold Layne  Read Replies (1) of 72
 
Looks like we may be in for a dividend increase. It is about time.

Colombia stocks rise on completion of bank merger

BOGOTA, April 3 (Reuters) - Colombian stocks rose Friday driven by the completion of the merger of Banco Industrial Colombiano <BIC.BG> and Banco de Colombia <BCO.BG>, creating the country's largest bank.
The Bogota <.IBB> index closed up 0.54 percent at 1,193.45 amid a 4.1 billion peso volume while Medellin's IBOMED <.IBMG> general price index rose 1.17 percent to 16,677.86.
"Investors were looking for Banco Industrial and Banco de Colombia shares because the merger is well regarded and a 25 peso per share dividend will be paid out on completion of the merger," a Bogota broker said.
Banco de Colombia closed up 5.4 percent at 390 in Bogota and was up 9.86 percent at 395.48 in Medellin. Banco Industrial rose 4.29 percent to 3,400 in Bogota and was up 4.55 percent at 3,450 in Medellin.
Greater rises were paired by falls in Banco Ganadero, which was off 1.74 percent at 450 in Bogota but was not traded in Medellin. Brewing and beverages giant Bavaria SA <BAV.BG> was down 0.01 percent at 8,099 in Bogota but was unchanged at 8,100 in Medellin.

17:03 04-03-98
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