Banco de Chile Sets FO Price

Banco de Chile is targeting CLP252.2bn ($524m) through an equity capital raise, with a rights offering to existing holders scheduled to begin December 5. The bank has set the price for the 3.94bn shares at CLP64 each. Shares closed at CLP70.69 Monday. Some 2.66bn shares will be available during the subscription period for existing holders, which runs through January 3. The bank, controlled by the Luksic family and Citi, is raising funds for expansion.