May 22, 2020 |
Chilean cement maker Cementos Polpaico said it plans to sell CLP74 billion ($92 million) in shares as part of a merger with Gamma Cementos.
Polpaico, the largest cement company in Chile, intends to sell 7.66 million shares in the follow-on offering, according to documents filed with the securities regulator CMF.
The company will use the proceeds to pay Gamma's owners. Polpaico announced an all-share deal to acquire Gamma on February 18 and closed the deal on March 30, valuing the merged company
Chilean cement maker says it could raise $92 mln from a follow-on offering in the local stock market