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Economy & Business - August 2019

Cencosud nets US$1.055bn in largest-ever IPO on Santiago de Chile exchange

On 28 June Chilean retail giant Cencosud earned US$1.055bn in the largest IPO ever made on the Santiago stock exchange. Some 474m shares were offered, equivalent to 28% of the company’s Cencosud Shopping division, priced at US$2.24 per share. The shares were bought by Chilean pension funds (58.5%), local financial institutions (11.7%), and foreign investors (8.3%), and the sale was coordinated by Banchile, Larraín Vial, JP Morgan Corredores, and BCI Corredores.

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