CIB 6-K: Intrinsic share value revealed at COP 43,280.67
Rhea-AI Filing Summary
Grupo Cibest S.A. (CIB) has released a Form 6-K detailing its pro-forma balance sheet after receiving assets and subsidiaries from Bancolombia S.A. on 16 May 2025.
Total assets stand at COP 45.2 trillion, driven chiefly by COP 43.6 trillion of investments in subsidiaries, including Bancolombia S.A. (COP 23.9 trillion) and Banistmo S.A. (COP 11.0 trillion). Cash and cash equivalents amount to COP 21.2 billion, while other investments and associates contribute a combined COP 55 billion.
Liabilities are modest at COP 3.6 trillion, comprising financial obligations (COP 1.5 trillion), preferred shares (COP 0.55 trillion) and deferred taxes (COP 1.53 trillion). Shareholders’ equity reaches COP 41.6 trillion, yielding an equity-to-asset ratio of roughly 92%.
The filing also discloses an intrinsic share value of COP 43,280.67, based on the 961.8 million shares outstanding (509.7 million common and 452.1 million non-voting preferred). Authorized capital is COP 700 billion (1.4 billion shares at COP 500 par value), while subscribed and paid-in capital totals COP 480.9 billion.
This 6-K confirms the Colombian regulator-approved spin-off, giving investors a first look at the post-transaction financial footing of Grupo Cibest as a holding company for several prominent banking and fintech subsidiaries.
Positive
- Completion of Bancolombia asset distribution adds COP 45.2 trillion in assets and establishes Grupo Cibest as a diversified financial holding.
- High equity base of COP 41.6 trillion translates to an intrinsic value of COP 43,280.67 per share, providing investors with a clear NAV benchmark.
Negative
- None.
Insights
TL;DR: Asset spin-off boosts CIB equity to COP 41.6T, implying COP 43k intrinsic value per share.
The transfer of Bancolombia-related assets positions Grupo Cibest as a sizeable holding company with 92% equity capitalization. The COP 45.2T asset base is heavily concentrated in financial subsidiaries, meaning NAV is now largely driven by their performance. Low leverage (D/E ≈ 0.09x) provides flexibility for dividends or strategic investments. Although no earnings data were provided, the disclosure offers investors a clear book-value anchor—COP 43,280.67 per share—useful for benchmarking against market price once trading begins or resumes. The filing signals completion of a regulator-sanctioned restructuring, removing transaction uncertainty and clarifying capital structure (53% common, 47% preferred).
TL;DR: Spin-off clarifies NAV; low debt and high asset quality reduce risk, mildly positive for valuation.
From a portfolio perspective, the revealed balance sheet shows ample equity cushion and limited liabilities, lowering solvency risk. Key holdings—Bancolombia, Banistmo, Banagrícola—are established banks, implying relatively stable dividend streams to Grupo Cibest. The par-value capital structure (COP 500) versus intrinsic value (COP 43k) suggests significant embedded value, though liquidity of shares and future payout policy remain unknown. Investors will still need profitability metrics, but the current data underpin a book-value-driven investment thesis. Overall, the disclosure is a net positive: it removes opacity around asset allocation and supports confidence in the spin-off’s balance-sheet strength.
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FAQ
What is the intrinsic value per share of Grupo Cibest (CIB) disclosed in the 6-K?
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