La Polar Sets $90m Capital Raise

Chilean department-store chain Empresas La Polar plans to raise CLP50bn ($92.5m) through the issuance of new shares, pending shareholder approval August 21. The company’s board will decide on the price of the new units and process for issuing them. It does not state how many shares it will sell to reach the total amount. It closed at CLP2198.90 Friday.