The problem with Gran ColombiaAfter the debt restructuring and peso devaluation Gran Colombia looks a lot better as an investment, if you look only at the balance sheet. But there is still the problem that the same leadership that screwed up so badly is still in charge. I am referring to Serafino Iacono and his partner Miguel del la Campa.
After the Gran Colombia IPO in 2010 there was a 4 for 1 reverse split. Then in 2012 ? there was a 25 for 1 reverse split. And this year there was a 15 for 1 reverse split after the debt restructuring. This all adds up to a whopping cumulative 1500 for 1 reverse split in 7 years.
None of the other independent directors own any shares. Maybe the CEO Lombardo can be credited with turning things around, but he also doesn't appear to have any skin in the game.
Also look at the mess in Serafino's other ventures such as PRE/Pacific Rubiales. He does not have a good track record, other than looking after his own interests at the expense of his shareholders.