July 31, 2018 / 3:48 PM / 4 months ago

Colombia's Corficolombiana to sell $351.5 mln in shares

BOGOTA, July 31 (Reuters) - Colombia investment holding company Corficolombiana said on Tuesday it will sell up to a trillion pesos ($351.5 million) in shares to reduce debt and finance investment.

The company, part of the Grupo Aval conglomerate, said it will issue 40 million ordinary shares for 24,000 pesos each and 2.57 million preferred shares at 20,000 pesos each.

The operation will take place in three tranches and finish before Aug. 28. ($1 = 2,875.72 Colombian pesos) (Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Jonathan Oatis)

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