Constructor Paz Froimovich To List

Chilean constructor Paz Froimovich is to list 25% of its capital on the Santiago Stock Exchange by the end of the year to finance its expansion plans, particularly in the provincial cities outside the capital. Paz Froimovich is owned by Paz Corp, which also owns real estate company Paz (formerly Inverpaz) and leasing company Viva Leasing. Earlier this year, the group restructured to create the holding company Paz Corp, and has been working towards a listing to be on a par with other constructors such as Besalco and Almagro. The IPO will be led by local broker LarraínVial.