Santander Raises $525 Million With Sale Of Chile Unit Shares

Banco Santander raised $525 million Tuesday from the sale of 7.2% of shares in its Chilean unit, Santander Santiago, said Dow Jones. Santander sold 11.4 billion ADS in New York at $46 per ADS, below the top of the price range anticipated. The sale was led by Credit Suisse. The Spanish bank says it is committed to maintain ownership of at least 75% of its Chilean business.