Ripley Raises $109m in Share Sale

Chilean retailer Ripley has sold 98m new shares, raising about $109m, it said. The shares, representing about 5% of the company’s total, sold for CLP555 each, below the $610 minimum set in the offering’s initial filings. The company is also set to offer another 24m shares to current shareholders in an offer expiring January 15, to raise about $30m. The proceeds from yesterday’s sale and offer to existing holders will be used to finance a $588m investment plan in Chile and Peru.