Buying Ecopetrol from the Colombian Stock Exchange as a foreigner

Haddeman says on May 13, 2009, 07:24:

Bickerss,
Call my friend,Rupert Stebbings, at Interbolsa bank,in Medellin(listed in the directory).He deals with all foreign investment in the bolsa listed companies in Colombia.I could speculate on an answer but he will be able to give you the nuts and bolts and how to go about it.
PS They all speak good English there.

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ColombiaBoard says on May 13, 2009, 07:26:

As far as I know, foreigners (individuals) are not allowed to buy Ecopetrol stock until 2010, only foreign funds are allowed to do so at the moment.

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Haddeman says on May 13, 2009, 07:31:

I've got heaps of them and they have done very nicely too,with excellent divident payments and about a 70% increase at todays listings.

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bickerss says on May 13, 2009, 07:56:

Thanks for the replies; I will give that guy a call.

Investment Strategy - buying when others are crying!! Offloading when others are gloating!!!

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ColombiaBoard says on May 13, 2009, 08:10:

But are you a legal resident with cedula?

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Haddeman says on May 13, 2009, 08:20:

A temporal cedula,yes but there are many ways around the rules.Speak to Rupert at Interbolsa for expert and informed advice.

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bickerss says on May 13, 2009, 08:25:

Gringloid - are you around; I think you mentioned a way to do this previously in one of your posts?

Investment Strategy - buying when others are crying!! Offloading when others are gloating!!!

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pedro (☼Travelguide writer) says on May 13, 2009, 08:47:

A trailing stop order to sell in Colombian pesos? I'm surprised their platform is that sophisticated? Or are you going through a broker and setting the trigger price as a one-off?

Regarding the original question. You can open a Colombian company with only a passport, and that company can own shares. But I highly doubt you want to go there (why deal with the extra compliance, accounting and tax).

Or you could buy with someone you trust holding the shares in their name, and you as the beneficial owner of the shares.

I think without a cedula you won't be able to open an account in your own name. But you could always make a few calls and enquire. Here's a list of brokers on the Colombian bolsa: http://www.elzipa.info/directorio_de_comisionistas_bvc.php

"this may seem a strange post but it is not...when in colombia men need to be aware that colombia women may try to be seductive and entice a travelling gringo to have sex with them..to be forewarned is to be forearmed..." -- pow wow

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bickerss says on May 13, 2009, 09:34:

Thanks gringoloid and Pedro. I am hoping that I can as many stockmarkets are open for foreign buyers.

Investment Strategy - buying when others are crying!! Offloading when others are gloating!!!

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ColombiaBoard says on May 13, 2009, 11:41:

For those interested in the colombian stock market, here´s how much some of the most traded stock have gained in the current bull market which started the second week of March. Factor in the dollar losing value against the peso and that percentage goes up considerably.

Ecopetrol: 15.54%
Bancolombia (P): 43.60%
Bancolombia : 38.19%
Colinversiones: 25.21%
ISA: 19.72%
Cemargos: 10.28%
Inverargos: 22.33%

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sloopskipper says on May 13, 2009, 12:10:

.

Seems that some people think "everybody's outa step but me".

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