LQIF mandates for Banco de Chile sell down

LQ Inversiones Financieras has mandated Citi as global coordinator and Bank of America Merrill Lynch, BTG Pactual, and Deutsche Bank as bookrunners on the sale of 6.7bn shares in Banco de Chile. The company is roadshowing in Chile and Brazil next week, and London and the US the following week. The deal is set to be priced on January 28 according to an SEC prospectus filed on Tuesday. The share sale would trim LQIF’s holdings in the Chilean lender to 51%, from 58.4%. The bank’s American Depositary Shares — equal to 600 common shares — closed at $81.07 each on Tuesday. Banco de Chile is the country’s largest lender, with a 19.3% market share. It reported assets of CLP25,261bn ($50.1bn) at the end of the third quarter.