Vapores Adds to Equity Raise

Chilean shipping and ports operator Compania Sudamericana de Vapores has raised CLP63.51bn ($129m) in the public phase of its equity follow-on, adding to the $659m raised so far. The issuer, working under a $1.2bn capital raising approval last year to help straighten the company’s finances, sold 630m shares at CLP100.81 each, according to a regulatory document. Vapores got CLP12.61bn in demand from 52 orders, comprised 83% of institutional and 17% retail. Celfin managed the trade. Vapores is controlled by Quinenco, the investment arm of the Luksic group. The plan also includes the spinoff of the company’s port and logistics unit, Sudamericana Agencias Aereas y Maritimas.