Quinenco Reaches Nearly 100% Take-up

After closing a subscription period Tuesday, Chile’s Quinenco is heard with a 99.3% takeup rate for its equity capital raise targeting CLP350bn ($678m). The holdco for the Luksic family’s investments was offering existing holders 318.2m shares at CLP1,100 each, subscribed at a rate of 0.24 per existing share. The proceeds are going to investments in Quinenco’s companies, as well as to make investments in new companies. Itau, Banchile and BBVA managed the process. The remaining shares are expected to be auctioned to the public. The Quinenco holdings include positions in beverage company CCU, Banco de Chile, shipper Vapores and manufacturer Madeco.