LQIF raises $817m from Banco de Chile stake amid troubled market

LQIF raises $817m from Banco de Chile stake amid troubled market

Equity

LQ Inversiones Financieras booked CLP448.9bn ($817m) from its sale of 6.7m Banco de Chile shares on Tuesday, in spite of a rocky market backdrop. Heavy local support underpinned the transaction, although for international accounts bidding for the paper, the decision proved challenging as stock markets fell and as equity funds saw continued outflows. LQIF sold the shares at CLP67 each, after investors placed around CLP1.2tn in orders. Local pension funds bought 43% of the deal, despite being the

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