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STXNEWS LATAM-Banco de Chile shares drop as stake sale looms
January 10, 2014 / 12:52 PM / 4 years ago

STXNEWS LATAM-Banco de Chile shares drop as stake sale looms

Jan 10 (Reuters) - Shares of Banco de Chile fell in opening trade on Friday, the day after the Chilean bank’s majority owner said it was seeking to sell the equivalent of up to around $1 billion in stock.

LQ Inversiones Financieras, owned by the wealthy Chilean Luksic family’s Quinenco holding group and Citigroup Inc, is seeking to divest up to 6.9 billion shares.

The stock was trading 5.89 percent lower on Friday, outpacing a 0.33 percent fall on the IPSA stock index.

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