La Republica recently featured us in an article. Here’s a translated excerpt: “The New Public Tender Offer for Mineros Could Reach COP$124 Billion and 9% of Shares”
“La República” recently highlighted us in an article. Below is the translated version:
“Investor Sun Valley Seeks to Acquire More Than 30% of the Company, Driven by the Bullish Gold Cycle. Offered Price Falls Below Analyst’s Target Price, Analysts Say.
The year began with corporate developments on the Colombian Stock Exchange. In less than a month, Sun Valley launched another Public Tender Offer (OPA) aimed at increasing its stake in Mineros, seeking to capitalize on the global rise in gold prices.
According to the details shared, the Public Tender Offer was structured to acquire a minimum of 5% and a maximum of 9% of the company’s shares.
Additionally, the purchase price per share will be COP 4,600, payable in cash and in either Colombian pesos or U.S. dollars, as specified in a statement.
“Sun Valley is an authority in the global mining industry, and its acquisition of Mineros shares reflects its growth strategy in the gold sector,” stated Yovanny Conde, co-founder of Finxard.
Currently, following the results of the last tender offer in December, Sun Valley is the largest shareholder in the mining company, holding a 30.85% stake. It is followed by Negocios y Representaciones (11.43%), Corficolombiana (7.96%), Canadian Depositary for Securities (6.60%), and other firms with smaller percentages.
Analysts believe the purpose of this OPA is to acquire shares from specific investors to solidify its controlling position in the company.
“Tender offers target specific shareholders. The previous one focused on Grupo Colpatria, and in my opinion, this one is directed at Corficolombiana. These are portfolio investments and not core business operations for these groups, making them more likely to sell,” Conde explained.
According to the analyst, both companies have likely already negotiated the transaction, making this a prearranged public tender offer.
“They are taking slow steps toward full control of the company. It is a good strategy because they are buying in small quantities at low prices, as Mineros is currently undervalued. The buyers are getting a great deal, while the sellers might not be as fortunate,” added Sebastián Toro, founder of the financial platform Arena Alfa.”
Read the original article in Spanish on La República:
Original article by Roberto Casas Lugo published on Jan 27, 2025 in La República.
Translation by: Sun Valley