Sonda Plans Equity Raise

Chilean IT provider Sonda plans to raise CLP150bn ($312m) in fresh equity, it says, to help fund growth in LatAm. The company does not disclose if this will include a public sale, and the matter is to be put to a shareholder vote August 24. The process will help fund a $700m 2013-2015 expansion plan. About $200m of the plan is to be organic, and $500m should come through acquisitions. It is targeting growth outside Chile, specifically in Brazil Mexico and Colombia. The company would use equity to fund about 40% of the plan, with 40% coming from cash and the remainder from debt. Sonda has been a consistent acquirer in the region, most recently taking Brazil’s Euclid for $73m in May and Chilean rival Quintec last year for $61m. It has a presence in Chile, Brazil, Argentina, Colombia, Costa Rica, Ecuador, Mexico and Uruguay. Sonda shares closed at CLP1,370.10 Tuesday.