Chilean Soccer Club Scores IPO

Chilean Soccer Club Scores IPO


Cruzados, the holdco for the Universidad Catolica soccer team, has raised CLP12.4bn ($24.8m) in the second Chilean IPO of the month. It sold 30m primary and 10m secondary shares at CLP310 each, in an offer 6x subscribed, according to documents published on the Bolsa. Approximately 48% of the deal went to institutional investors, and 48% to retail. Proceeds from the transaction will be used to pay debt and invest in new players and professional staff. IM Trust and BICE managed the sale. Retailer

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