Chilean Financial Group Plans IPO

Chilean Investment firm Inversiones La Construccion plans to IPO this year, and will put the matter to a shareholder vote April 16, it says. The investment arm of Camara Chilena de la Construccion, which is a holdco for firms including AFP Habitat, Consalud and the Tabancura and Avansalud clinics, is looking to raise around $300m-equivalent, and has hired Bank of America Merrill Lynch, IMTrust and JPMorgan, according to local press reports citing remarks from company management. Construction company Ingevec raised $26m-equivalent last month, and drilling company Terraservice last week announced its intention to IPO this year.