Quinenco Set for Capital Raise

Quinenco has approved a CLP225bn ($446m) capital increase, through an equity rights offering. The Chilean conglomerate controlling holdings of the Luksic family is raising funds for its participation in the capitalization of shipping company Compania Sud Americana de Vapores and other projects. Earlier this month Vapores announced a $1.2bn capital raise, with Quinenco contributing $1bn to help turn around the struggling shipper.