Sept. 4 (Bloomberg) -- Biomax Biocombustibles SA, a Bogota- based fuel distributor, plans an initial public offering early next year on Colombia’s stock exchange to finance expansion.

Biomax will register its shares with Bolsa de Valores de Colombia in two weeks, Chief Executive Officer Ramiro Hernando Sanchez said today in a telephone interview.

“We expect in the beginning of next year to launch a primary issue,” he said, declining to give estimates on how much the IPO would raise.

Proceeds from the share sale would be used for expanding the company’s distribution terminals as part of a goal to triple market share by 2012, Sanchez said. Biomax currently has 2.8 percent market share, according to the CEO.

Colombia’s last IPO was in December 2007. A “limited” number of companies that balked at going public because of the global recession are considering reviving their plans, Juan Pablo Cordoba, the exchange’s president, said yesterday in an interview, without naming companies.