Chilean Builder Prices IPO below Target

Chilean Builder Prices IPO below Target

Chile Equity

Moller y Perez-Cotapos (MPC) priced a CLP42.0bn ($89m) IPO, the first in Chile this year, at a price below expectations before shares traded down Tuesday. The construction company and real estate developer priced 39m primary shares and 67m secondary shares at CLP400 each, coming below the CLP430 floor price that the issuer had set and subsequently waived. Total demand reached CLP61.1bn, with CLP27.2bn coming at an amount above the floor price. The issuer had been aiming for more than $100m-equiv

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