Decisions Adopted by the Shareholders' Assembly of Grupo Argos
21 October 2024Decisions Adopted by the Shareholders' Assembly of Grupo Argos
Read moreThis result occurs within the context of measures announced to the market last year aimed at unlocking shareholder value and acknowledges the positive performance of Grupo Argos and its businesses in construction materials, energy, and road and airport concessions, allowing for the appreciation of shares to exceed 100% on a consolidated basis, positioning them among the most sought-after stocks by investors on the Colombia Stock Exchange.
The price of Grupo Argos’ ordinary share between April 29, 2023, and the same day in 2024, rose from COP 8,850 to COP 16,500, representing an 87% increase, while the preferred share increased from COP 5,675 to COP 11,800, growing by 108%. In the case of Cementos Argos, the ordinary share increased from COP 3,090 to COP 8,500, an increase of 175%, while the preferred share grew 203%, from COP 2,349 to COP 7,110. Finally, Celsia’s share rose from COP 2,920 to COP 4,190 in the same period, advancing by 43%.
With the appreciation of the shares, Grupo Argos’ market capitalization increased from COP 7.0 trillion to COP 13.4 trillion, representing an increase of COP 6.3 trillion. Meanwhile, Cementos Argos’ market capitalization rose to COP 7.3 trillion and, in the case of Celsia, stood at COP 1.4 trillion during the same period. On a consolidated basis, the increase amounted to COP 15.0 trillion among the three companies.
Among other value catalysts, this growth is associated with the execution of the share buyback programs announced by the companies of Grupo Empresarial Argos for an amount of up to COP 1 trillion, in which, to date, transactions have been carried out for approximately COP 320,000 million on a consolidated basis.
Over the past year, the organization has also announced transactions that outline the strategic future of the organization as an asset manager, among them the combination of assets between Argos USA and Summit Materials, the start of operations of the Odinsa and Macquarie airport platform, and Celsia’s entry into the electric energy market in Peru.
Decisions Adopted by the Shareholders' Assembly of Grupo Argos
Read moreGrupo Argos Foundation commemorates the Inter-American Water Day by protecting more than 25 watersheds in Colombia and investing COP 6.9 billion
Read moreGrupo Empresarial Argos' companies strengthened their performance in the S&P Global Sustainability Index and consolidated their leadership
Read moreGrupo Empresarial Argos contributes to the protection of plant and animal species in at least 20 departments across the country
Read moreGrupo Argos and Barranquijazz join forces to offer the city a free concert at the Realismo Mágico Park
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