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An oil stock rises on rising oil prices. Imagine that.
In Nov. 2007, Ecopetrol held an initial public offering on the Colombian Stock Exchange (BVC), which raised $5.7 trillion Colombian Pesos (US$2.8 billion) from the sale of a 10.1 percent stake. On 18 September 2008 Ecopetrol announced the listing of its American Depositary Shares (ADSs) on the New York Stock Exchange (NYSE).
Cali created its stock exchange in the mid-1970s. The main driving force of this stock exchanges was the economic growth it meant to their participants. However, the policy making of the original stock exchange and Colombia's Bank of the Republic (Similar to the United States Federal Reserve) was archaic for today's standards.
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The refinery has a capacity of 75 thousand barrels per day (11.9 × 10 ^ 3 m 3 /d). [2] By 2013, the capacity will be increased to 165 thousand barrels per day (26.2 × 10 ^ 3 m 3 /d). [1]
A corporation can adjust its stock price by a stock split, substituting a quantity of shares at one price for a different number of shares at an adjusted price where the value of shares x price remains equivalent. (For example, 500 shares at $32 may become 1000 shares at $16.) Many major firms like to keep their price in the $25 to $75 price range.
BOGOTA (Reuters) -Colombian state oil company Ecopetrol on Tuesday reported its third-quarter net profit more than doubled to 9.51 trillion pesos ($1.90 billion), rising 150% from a year earlier ...