Grupo Aval Announces Pricing of Initial Public Offering
23 Septiembre 2014 - 7:05AM
Business Wire
Grupo Aval Acciones y Valores S.A. (“Grupo Aval” or the
“Company”) today announced the pricing of its initial public
offering of 1,629,629,640 preferred shares, par value Ps 1.00 per
share, issued in the form of American Depositary Shares (“ADSs”),
at a price of U.S.$13.50 per ADS. Each ADS represents 20 preferred
shares of the Company. The ADSs are expected to begin trading on
the New York Stock Exchange on September 23, 2014 under the ticker
“AVAL.” All of the ADSs are being offered and sold by Grupo Aval.
In addition, Grupo Aval has granted the underwriters a 30-day
option to purchase up to 12,222,223 additional ADSs to cover
over-allotments, representing 244,444,460 preferred shares at the
initial public offering price.
J.P. Morgan Securities LLC and Goldman, Sachs & Co. are
acting as global coordinators and joint book-running managers for
the offering. Citigroup Global Markets Inc. and Morgan Stanley
& Co. LLC are acting as joint book-running managers for the
offering.
A registration statement relating to these securities has been
filed with, and declared effective by, the U.S. Securities and
Exchange Commission. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
The offering will be made only by means of a prospectus, copies
of which may be obtained, when available, from J.P. Morgan
Securities LLC, via Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York 11717, Goldman, Sachs & Co.,
Attn: Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 866-471-2526, e-mail: prospectus-ny@ny.email.gs.com
,Citigroup Global Markets Inc., c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146), or
Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180
Varick Street, New York, NY 10014, telephone: 866-718-1649, e-mail:
prospectus@morganstanley.com.
About Grupo Aval
Grupo Aval is the largest banking group in Colombia and in
Central America, in each case, based on total assets. Grupo Aval
provides a comprehensive range of financial services and products
ranging from traditional banking services, such as making loans and
taking deposits, to pension and severance fund management.
Bio Luis Carlos Sarmiento Gutiérrez
Luis Carlos Sarmiento Gutiérrez, President of Grupo Aval Shares
and Securities S.A. since 2000, with 30 years of professional
experience in Colombia and United States (24 years with the
Sarmiento Group entities). Chairman of the Board of Directors of
the Banco de Bogota since 2004, Corficolombiana since 2006 and BAC
Credomatic since 2010. Under the leadership of his father, Mr.
Sarmiento Angulo, Luis Carlos Sarmiento Gutiérrez has led the
process of internationalization of Grupo Aval, launched in 2010.
Under their administration there have been milestones such as the
purchase of BAC Credomatic in 2010, the registration of Grupo Aval
with the SEC of the United States in 2011, the execution of two
bond issuances in international markets in 2012, two issues of
shares in the local market, in 2011 and 2013, and the purchase of
AFP Horizonte, BBVA Panama and Grupo Financiero Reofrma, all during
2013.
Bio Luis Carlos Sarmiento Angulo
Luis Carlos Sarmiento Angulo is a civil engineer from the
Universidad Nacional de Colombia, where he graduated with honors in
1954 at age 21. His first occupation after graduation was as a
contractor of public works. In 1959, he began a long and
illustrious career as a real estate developer. Over the last ten
years he has also become involved in the construction of office
buildings and shopping malls. In total, Mr. Sarmiento Angulo has
built more than 6 million square meters.
In 1970, he extended his activities into banking. Throughout his
life he has founded and / or acquired more than 20 financial
institutions. In 1996, he founded Grupo Aval to optimize the
management of the financial institutions he controlled. Currently
all these acquisitions have been merged into 4 main banks: Bogota,
Occidente, Popular and AVVillas. Through Grupo Aval he also
controls a pension fund (Porvenir), a merchant bank (Corporación
Financiera Colombiana) and a bank in Central America (BAC
Credomatic). BAC Credomatic was acquired in 2010 from GE Capital
and represented Grupo Aval’s first transformational acquisition
internationally. Grupo Aval has approximately 30% market share of
the Colombian financial system and is the largest financial
conglomerate in Central America.
Grupo Aval currently has Assets Under Management of over US$86
billion. From his position as Chairman of the Board of Grupo Aval,
a position Mr. Sarmiento Angulo has held since the founding of the
company, he controls and directs the operations of Grupo Aval, as
well he leads the development and construction of all of the
projects in the group. Mr. Sarmiento Angulo is the largest
shareholder of Grupo Aval.
Mr. Sarmiento Angulo is married to Fanny Gutiérrez de Sarmiento
and they have five children and eleven grandchildren.
Grupo Aval Acciones y Valores S.A.Diego Fernando
SolanoSenior Financial
VicepresidentDSolano@grupoaval.comorTatiana Uribe,
(+57)318-691-0220Financial Planning and Investor
RelationsVicepresidentTUribe@grupoaval.com
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