This past Thursday the Colombian Stock Exchange authorized the liquidity builder program for Grupo SURA's ordinary and preferred stock. Said program shall have an initial term of one year (12 months), starting on October 11, and will be operated by the stock brokerage firm Valores Bancolombia, which shall act as liquidity builder.
A liquidity builder is an intermediary that is in charge of closing the gap between the supply and demand of an asset while making buying and selling points available to the market on an ongoing basis.
With the launching of this program, Grupo SURA expects to help improve price formation conditions, increase both the liquidity and depth of both types of shares as well as reduce their market volatility for the benefit of both the Company and all of its shareholders..
For more regarding how liquidity builders work, please click on the following video.