COLTEJER REPORTED LOSSES IN THE FIRST SEMESTER

COLTEJER REPORTED LOSSES IN THE FIRST SEMESTER

The textile company Coltejer, reported losses in the first semester of 2012 for 25.7 billion COP$.

This are bad news for the textile producer because in comparison with the same period of 2011 in which also reported losses this year they increased by 65%.

The numbers of the company are as follows:

Assets: 653 billion COP$

Liabilities: 298.2 billion COP$

Patrimony:   355.4 billion COP$

Price of the Stock: $5.400 COP$

The Superintendence of Finance authorized the issuing of debt on Coltejer for their Commercial Portfolio for 35 billion COP. With a minimum of allocation of 20 billion COP$. The nominal value of the tittles is 10 million COP$, and in the case this allocation is not successful the process will be called not valid.

With this emission the company wants to keep up with payments and restart again to have a better situation in the future.