Cencosud Shareholder Checks Out

Peru’s Wong Group has sold the remaining stake it owns in Cencosud via a secondary offering on the Santiago stock exchange. The 2.3% stake, which Wong acquired through the sale of its supermarket chain to Cencosud in 2007, was sold for $201m equivalent. The company priced 49.8m shares late Monday at CLP2,053.00, a 3.6% discount to the previous session’s close of CLP2,130.50. The deal was 40% sold to international investors, according to a banker at a shop leading the deal, thanks to a strong effort to diversify the company’s investor base. The remainder went to local buyers. All told, the 144a secondary sale garnered a book of 2.5x the deal size. JPMorgan and LarrainVial led the offering, with both managing local and international distribution.