Cementos Argos to issue shares to finance expansion, Colombia

Colombia’s largest cement producer Cementos Argos plans to issue up to 250m preferred shares to finance an expansion plan, the company said on Tuesday.

Argos has set a range of between COP7700-9300 (US$4.20 to US$5.07) per share for the offering, the company said in a statement to Colombia's financial regulator.

Argos is expected to give more details later this week, according to market sources.