Socovesa Plans IPO

Chilean real-estate developer Socovesa is planning an IPO in Setember and is registering with the SVS local securities overseer. The developer, with annual sales around $200 million, is in the middle of buying out another local developer, Almagro SA. Once the buyout is complete, Socovesa will be the biggest developer in the country. The developer, with annual sales around $200 million, is in the middle of buying out another local developer, Almagro SA. Once the buyout is complete, Socovesa will be the biggest developer in the country.