Chilean Corporates Tee up IPOs

No less than three Chilean companies are gearing up to tap the public markets, the first of which is slated for this week. Clinica Las Condes will Wednesday raise $64m through a local rights offering of 1.79m shares at CLP18,500 each. In mid-October, construction outfit Socovesa will tap the local and international equity markets for an estimated $150m, selling 25% of the company. Chile’s IM Trust is handling the domestic offerings for Las Condes and Socovesa, while Deutsche Bank has been hired for the international portion of Socovesa’s IPO. And also coming to market later this year is AquaChile, a salmon farming company, heard to be preparing a local and international offering of up to $250m. IM Trust has been awarded a mandate, though no international bank is yet slated.