Santander Chile Pops after Well-Bid FO

Santander Chile Pops after Well-Bid FO

Chile Equity

Santander Chile Shares rose nearly 10% in their first session following a well-bid $949m follow-on, reflecting the transaction’s 2x-plus demand. It sold 14.74bn shares, represented by 14.19m ADS, at CLP33.00, or $66.88 per ADS, to bring in a total of CLP486.47bn ($949m). The price was slightly higher at $66.58 at Tuesday’s close, and the shares rose 9.45% Wednesday to $72.87. The deal saw $2.01bn in competitive demand from 2,041 accounts, Santander Chile says. Foreign ADS buyers accounted for 65

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