BOGOTA, Feb 19 (Reuters) - Colombian bank Davivienda , the country's third-largest, on Monday launched its first issuance of shares, with which it could raise some 175 billion pesos ($43.9 million).

According to a public share offer, the bank is offering 8,607,528 shares with a preferential dividend and no voting rights for 20,000 pesos ($2.55) per share.

The offer will run until March 8 and funds will go to maintaining levels of capital and strategic developments, the document said.

The bank has a limit of potential share issuance of 48 million shares, it has said. (Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Chris Reese)