Bancolombia says holders approve share issue plan

BOGOTA, July 8 (Reuters) - Colombia's biggest bank, Bancolombia (CIB.N) BIC.CN, will issue up to 80 million in preferred shares, bank President Jorge Londono said on Wednesday.

Holders approved the plan to issue the new shares during a meeting held on Wednesday at Bancolombia's headquarters in Medellin.

Bancolombia currently has 278.12 million preferred shares in circulation. The bank has said it needs to raise money to fund its regional expansion plans. (Reporting by Javier Mozzo, editing by Gerald E. McCormick)