Chile’s Ripley Plans Follow-On

Chilean department store Ripley is preparing to auction about 136m new shares Monday, which could raise an estimated $170m. Ripley also plans to offer current shareholders an additional 24m shares through January 15, which is expected to net the company $30m. The $200m will be used to finance Ripley’s $588m 2008 investment plan in Chile and Peru. In the coming three years, Ripley plans to issue an additional 240m new shares.