Strong local bid for Banco de Chile

Strong local bid for Banco de Chile

Equity

Banco de Chile’s share sale was heard to be oversubscribed on Tuesday, with a particularly strong bid coming from local investors. The share price is due to be released today. LQ Inversiones Financieras is the seller in the all-secondary deal, and offered to sell 6.7bn shares. That would cut the majority shareholder’s ownership to 51%, from 58.4%, of the firm. Banco de Chile’s American Depositary Shares — equal to 600 common shares — closed at $74.95 on Monday, down from $83.65 the day LQIF anno

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