Vapores Sets Capital Raise Price

Chilean shipping and ports company Compania Sudamericana de Vapores has set a $0.2045 per share price for its planned $1.2bn capital increase. Vapores is preparing to issue 5.87bn new shares, indicating a 10% discount from the average price of the stock on December 7. The preferential stage of the capital increase is scheduled to begin on December 19 and will end on January 17. Controller Quinenco, the vehicle for the Luksic family, is contributing $1bn to help turn around the struggling shipper.