Chile’s Security Set for Follow-On

Grupo Security is scheduled to announce the price of an equity follow-on this morning that could raise $200m equivalent. The financial company was to close books yesterday in the sale of 450m primary shares, which would raise CLP94.05bn ($202m) at Thursday’s CLP209 closing price. Security is raising funds for growth at its various units. Security’s main operation is Banco Security, and it also has operations in insurance, investments and asset management. IMTrust and Security’s brokerage unit are managing the sale.