La Polar Hits Target

La Polar Hits Target

Chile Equity

Chile's La Polar has raised CLP127bn ($269m) through an equity offering closed last week, it says, topping a CLP120bn goal. The retailer has sold 720m shares, with pricing set as the average price of the three days prior to the buyer’s subscription minus a 5% discount. The shares closed at CLP208.33 Friday. The offer raises funds to remodel stores in Chile and to expand in Colombia, and is done as part of a $900m restructuring agreement with creditors. The retailer set aside nearly $1bn-equivale

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