Colombia to sell off 21% of electric utility ISA

Sept. 1, 1997 Colombian government owned electric utility ISA (Interconexion Electrica Nacional) is to sell off 21% of its shares in the Bogota stock market, in a move simultaneous with the issuance of $ 200 million worth of bonds. The goal is to raise $ 400 million to fund a $ 1.1 billion investments programme. The government will keep a 60,2 % stake on ISA, followed by Empresas Publicas de Medellin (10,8 %), and shares held by Epsa, Corelca, EEB, and employees.