Cementos Argos issues US$765m to finance expansion plans

Colombia's leading cement producer Cementos Argos has  issued COP1.4trn (US$765m) worth of preferred shares to finance expansion plans.

The company sold the 182 million shares at COP7,700 each to both domestic and foreign investors, receiving offers worth COP2.1trn, the company said in a statement.

It may sell another 32 million shares in a second round at the same price per share, it said.