Ecopetrol Announces Start Dates for the Market Maker program for its Shares on the Colombian Stock Exchange

Core Viewpoint - Ecopetrol S.A. has launched a Market Maker program to enhance trading conditions, price formation, depth, and liquidity of its shares in the Colombian market, thereby strengthening the capital market and creating value for shareholders [3][4]. Company Overview - Ecopetrol is the largest company in Colombia and a major integrated energy company in the Americas, employing over 19,000 people [4]. - The company is responsible for over 60% of hydrocarbon production in Colombia and holds leading positions in petrochemicals and gas distribution [4]. - Ecopetrol has acquired 51.4% of ISA's shares, expanding its involvement in energy transmission and real-time system management [4]. - Internationally, Ecopetrol operates in strategic basins in the Americas, including drilling and exploration in the U.S. (Permian basin and Gulf of Mexico), Brazil, and Mexico [4]. Market Maker Program Details - The Market Maker program commenced on March 3, 2025, with Andes Investment Group Inc. and began for Valores Bancolombia S.A. on March 14, 2025 [2]. - The program aims to improve trading conditions and liquidity for Ecopetrol's shares in the local market [3]. - The program will utilize the liquidity provider's own funds and is set to be effective until March 14, 2026 [8]. Technical Conditions of the Program - The maximum differential between the best selling and buying offers by the liquidity provider cannot exceed 50 pesos [9]. - The minimum order amount for both selling and buying is set at 66,000 UVR [10]. - The liquidity provider must maintain at least one buy and one sell order throughout the market session [11]. - The liquidity provider is required to meet the technical conditions of the program at least 80% of the time during monthly measurements [12].