November 11, 2009
Chilean retailer Empresas Hites is planning to raise about $45m by issuing
Chilean retailer Empresas Hites is planning to raise about $45m by issuing shares in the local market to pay down debt and finance its five-year expansion plan. The company, which has 12 stores in Chile, plans to open 10 more and remodel its stores in Santiago. It also says it does not discard the possibility of venturing into neighboring countries as part of its expansion plan. Banchile and BBVA are managing the issue and Carey & Cia is acting as legal advisor.