#Ecopetrol #Colombia #Bogota #Colombian Stock #Market Maker

Ecopetrol Initiates Market Maker Program on Colombian Stock Exchange

Ecopetrol S.A., the largest company in Colombia and a key player in the energy sector across the Americas, has announced the launch of a market maker program aimed at bolstering liquidity and trading conditions for its shares on the Colombian Stock Exchange (BVC). This program is set to be operational for a 12-month period, contingent on the completion of the necessary procedures with the Exchange.

The initiative aligns with Article 2.9.17.1.8 of Decree 2555, enacted in 2010, which facilitates the implementation of such programs to enhance market efficiency. Ecopetrol has partnered with Valores Bancolombia S.A. Comisionista de Bolsa and Andes Investment Group Inc., which is a subsidiary of the Chilean firm Larraín Vial, to serve as liquidity providers under this program.

By introducing this market maker program, Ecopetrol seeks to not only improve the depth and liquidity of its shares but also strengthen the overall infrastructure of Colombia's capital markets, thereby adding value for its shareholders.

A Look at Ecopetrol

Ecopetrol holds a pivotal role in Colombia’s economy, responsible for more than 60% of the country's hydrocarbon production. The company supports various aspects of the energy sector, including transportation, logistics, and refining. Alongside its domestic operations, Ecopetrol has a significant presence in the international market, with active drilling and exploration activities in strategic basins such as the Gulf of Mexico, Brazil, and Mexico.

Their operations extend to energy transmission, where Ecopetrol has acquired a 51.4% stake in ISA, further diversifying its portfolio into power transmission across Brazil, Chile, Peru, and Bolivia. These international ventures, combined with local endeavors, position Ecopetrol as a multidimensional force in the energy landscape, influencing not just Colombia but also the broader American continent.

Shareholder Considerations

Ecopetrol’s board and executive team understand that this new market maker program could play a vital role in improving trading volume and shareholder confidence. As the market continues to evolve, the company’s commitment to ensuring a stable and liquid trading environment is crucial.

However, potential investors should remain aware of the inherent risks associated with such initiatives. The company's growth prospects could be influenced by several factors including market prices of oil and gas, competition, regulatory conditions, and overall economic performance in Colombia and globally. The company explicitly cautions shareholders about these uncertainties that may impact the performance of the stock.

In conclusion, Ecopetrol's decision to launch a market maker program is not merely a regulatory compliance measure but a strategic move to enhance market efficiency and shareholder value. As it gears up to finalize the arrangements with the requisite institutions, stakeholders will be watching closely to see how this initiative unfolds and its subsequent impact on the Colombian capital market.

For inquiries related to this initiative, investors and journalists can reach out to Ecopetrol’s Head of Capital Markets, Carolina Tovar Aragón, or the Head of Corporate Communications (Colombia), Marcela Ulloa, for further information.