LQIF plans Banco de Chile secondary sale

Chilean investment firm LQ Inversiones Financieras is planning to sell 6.9bn shares in Banco de Chile. The seller described the deal as part of a continual search to increase liquidity in Banco de Chile shares among international accounts. The secondary sale would be in the local market and in the US through its American Depositary Shares, which equal 600 local stocks. The bank’s ADS closed at $83.65 on the NYSE on Thursday, meaning the share sale could raise close to $1bn for the seller.