December 14, 2012
Chile’s CorpBanca is preparing a sale of ADS, according to regulatory documents, targeting about $150m. The bank plans to sell 8.01m ADS, equivalent to 12.02bn common shares. Such a transaction would raise $159m if done at Thursday’s $19.83 closing ADS price. ADS equivalent to 1.34bn common shares will constitute a secondary share portion. There were no immediate details regarding the timing. Proceeds would be used for general corporate purposes. BTG Pactual is managing the sale, with Celfin and CorpBanca as co-managers.