Chilean Health Provider Sets IPO Date

Chile’s Inversiones La Construccion (ILC) plans to price its approximately $500m-equivalent IPO July 19, it says, with the results out by the following morning. The investment arm of Camara Chilena de la Construccion, which is a holdco for health and health insurance firms including AFP Habita and Consalud and the Tabancura and Avansalud clinics, is offering 3.7m primary shares and 28.5m secondary shares. ILC is raising funds to capitalize its health care operations and for organic growth and acquisitions. Bank of America Merrill Lynch, IMTrust and JPMorgan are managing the sale, which includes both a local and a 144a portion. ILC would follow this week’s pricing of an approximately $75m IPO from berry exporter Hortifrut.