This Friday, February 25, it was learned that around 160,000 million pesos in Nutresa shares were traded, at a price above the value of the ongoing takeover bid for the food conglomerate. The daily average volume in Nutresa shares is a fraction of that amount, which might indicate that it was a prearranged operation.
The key is in the audios of the stock brokers who participated in said transaction. On the seller’s side, Bancolombia facilitated the transaction, while on the buyer’s side, it was done through Davivienda.
The relevant regulatory authorities can easily request these audios, since every customer order, especially of this size, is recorded on audio. That is, the seller would have to have given authorization for the order to be executed and the buyer would have to do the same. In the same way, due to banking regulations, the commission agents that participated would have to know who the real beneficiaries of this suspicious transaction are.
There may also be communications between the two brokers. Given the sensitivity of this issue, it is critical that evidence is not lost. According to a market operator, volumes began to pass at 41,300 pesos, stopped offer at that level and began to cross ten pesos down.
That is the greatest sign that there was indeed a pre-agreement. Those responsible for what is happening would have no way to hide, since Nutresa will soon have to publish its shareholding composition. If it is a prearranged and hidden takeover bid, it might have criminal consequences. The key is in the audio.
*Gabriel Gilinski is a shareholder of SEMANA Publications.
