Masisa Readies Equity Sale

Chile’s Masisa is seeking CLP45.50bn ($93m) through an equity rights offering scheduled to run May 31 to June 29, it says. The wood products company is offering 1.0bn shares at CLP45.50 each. Proceeds would go toward the financing of the purchase of Mexico’s Rexcel made last year, as well as for working capital. Masisa agreed in August to pay $52m to Mexico’s Grupo Kuo for Rexcel, a maker of particle boards.