La Polar Rights Offer Hits Minimum

La Polar Rights Offer Hits Minimum

Chile Equity

Chile's La Polar reached a subscription level of CLP91.2bn ($193m) for its equity capital raise as of Friday, it says, topping the minimum threshold of CLP90bn. The retailer is targeting up to CLP120bn in the offer scheduled to close today. The price of subscription is equal to the average price of the three days prior to the buyer’s subscription minus a 5% discount, with a minimum price of CLP160 per sahre. Shares closed at CLP237 Monday. The retailer set aside nearly $1bn-equivalent in loan lo

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