CCU Sets FO Price

CCU Sets FO Price

Chile Equity

Compania Cervecerias Unidas (CCU) has concluded the first step in an equity follow-on that should raise CLP331.5bn ($655m), setting the price at CLP6,500, according to regulatory documents. The Chilean beverage company has sold 22.6m shares, representing rights to shares waived by controller IRSA, and now opens a 30-day preferential rights period for existing holders to buy the remaining 28.4m shares. The price represented a 3.0% discount to the previous CLP6,702.60 closing price. Shares closed

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