Grupo Argos, the Colombian holding company that controls cement maker Cementos Argos, said it is weighing a small sale of its stake in the cement business while keeping control. The idea came with its third-quarter results on Thursday 12 November 2026 and aims to put more Cementos Argos shares into public hands and help the company join a major global stock index.

What Grupo Argos Said

Grupo Argos said it will evaluate ways to strengthen the free float of Cementos Argos, including a possible marginal reduction of its stake while keeping a controlling position. Free float is the share of a company’s stock that ordinary investors can actually trade.

The company said Cementos Argos already meets size and liquidity criteria linked to eligibility for the MSCI Standard Index. MSCI is a US index provider whose benchmarks funds around the world track, so a place in one could draw buying from those funds.

If a sale goes ahead, the freed-up money could speed up the buyback of Grupo Argos’s own shares, subject to market conditions and its capital discipline. The company presents the idea as a way to raise liquidity at Cementos Argos and pass value to Grupo Argos shareholders at the same time.

The Bolsa de Valores de Colombia, the Colombian stock exchange where Grupo Argos shares trade, in Bogotá. Photo: Juan Camilo Alfonso Mesquida / Wikimedia Commons (CC BY-SA 4.0)

Part of a Plan to Close the Value Gap

The step belongs to a programme called ACE 1.0, the roadmap Grupo Argos presented to the market in August 2026 to narrow the gap between its share price and the value of its businesses. Our earlier report covers the programme’s launch in August.

From the launch to 9 November, Grupo Argos ordinary shares gained 29% and its preferred shares, which pay priority dividends but carry no vote, gained 22%. The company says it is beginning to see positive signs in the liquidity and valuation of its shares.

Grupo Argos has bought back COP 290,000 million of its shares so far (about US$88 million), and it has announced a second offer of up to COP 150,000 million (about US$45 million). Our earlier report on its preferred shares and the MSCI small-cap index gives more background.

The Nine-Month Numbers

For the nine months to September, Grupo Argos reported revenue of COP 8.62 trillion (about US$2.6 billion) and operating profit before depreciation (EBITDA) of COP 2.14 trillion (about US$650 million), a 25% margin. Adjusted net profit rose 13% to COP 666,000 million (about US$200 million), and gross consolidated debt fell 13% from a year earlier.

The company says it is moving ahead with the plan while keeping a solid financial structure. Cementos Argos, the cement unit, has published its own third-quarter results, which we covered in a separate report.

What It Means for You

For investors, the practical question is liquidity: more shares in public hands usually means easier trading, which can help a company qualify for an index. Grupo Argos says it would keep control, so a small sale would leave it in charge of the cement business.

For US readers who hold Colombian stocks through emerging-market funds, index membership can change how much a company weighs in those funds. Nothing has been decided, and no buyer, price or date has been named.

What Is Not Known

Grupo Argos has not said how many Cementos Argos shares it might sell, at what price or by which method, for example a market sale or a placement with investors. It describes the step as an option under evaluation, not a decision.

It is also open whether a larger free float would be enough to win a place in the MSCI Standard Index, because MSCI sets its own criteria and calendar. Readers can follow the company in our Grupo Argos profile and in Colombia news.

Frequently Asked Questions

Is Grupo Argos selling Cementos Argos?

No decision has been made. Grupo Argos said it is evaluating a marginal reduction of its stake while keeping control.

Why does Grupo Argos want a larger free float?

More tradable shares would improve liquidity at Cementos Argos and could help it join the MSCI Standard Index. Grupo Argos says Cementos Argos already meets size and liquidity criteria linked to eligibility.

What is Grupo Argos’s ACE 1.0 plan?

ACE 1.0 is the roadmap presented in August 2026 to raise the profitability of its businesses, monetise assets and pass value to shareholders. Its buyback programme has reached COP 290,000 million (about US$88 million).

Which exchange rate was used for the US$ values?

We converted at COP 3,305 per US$, the spot rate on 13 November 2026. Company figures were earned at other rates, so US$ values are approximate.