Socovesa IPO Hits the Road

Chilean construction firm Socovesa is hitting the road Friday for the local leg of its $150m IPO through IM Trust. Deutsche Bank has been hired for the international portion of the IPO, which aims to sell 25% of the company overall. The amounts placed in each will be determined by demand and it should price in the next three weeks, IM Trust executive director Guillermo Tagle tells LatinFinance. The shop is also lining up a $64m local rights offering of 1.79m shares at CLP18,500 each for Clinica Las Condes, which should come by the end of November. Also coming to market later this year is AquaChile, a salmon producer, heard to be preparing a local and international offering of up to $250m.