Bloomberg News

Chilean Stocks: Banco Santander Chile, Banco de Chile, Corpbanca

December 07, 2011

Dec. 7 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of the close in Santiago.

The Ipsa index rose 1.6 percent to 4,156.1. The MSCI Chile index gained 2.2 percent to 2,290.53.

Banco de Chile (CHILE CC) advanced 3 percent to 68 pesos. Chile’s second-largest lender by assets sold $111 million of Mexican-peso denominated bonds yesterday.

Banco Santander Chile (BSAN CC) rose 5.7 percent to 35.3 pesos, its biggest increase in nine weeks. Spain’s Banco Santander SA completed the sale today of a 7.8 percent stake in its Chilean unit at 33 pesos per share, raising $958 million. Trading had been suspended until 11:30 a.m. in Santiago.

Corpbanca (CORPBANC CC) rose 3 percent to 6.821 pesos, the biggest gain in a week. Chile’s sixth-largest lender by assets agreed to acquire Santander’s Colombian operation for $1.16 billion and will sell $450 million in new shares to fund the operation.

--Editors: Richard Richtmyer, Marie-France Han

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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