SK Looks for Equity Raise

Chilean conglomerate Sigdo Koppers (SK) plans to raise $370m via an equity rights offering. Timing has not been determined as shareholders must still approve the offering. The move comes after SK paid EUR550m ($790m) for Belgian portfolio company Magotteaux. That purchase was initially funded with an 18-month bridge loan from advisor BNP. The group has been shedding non-core assets in order to be more acquisitive in the mining sector. SK shares closed at CLP752 Tuesday.