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The operation considers the issuance of 22.4 million series B shares of the company, mainly involving foreign investment funds (through ADRs) and AFPs.
SQM’s share began with a violent fall on the Santiago Stock Exchange after yesterday the company informed the market that it will propose a capital increase to finance the investment plan for the coming years.
In its first operations, the series B of the firm linked to businessman Julio Ponce Lerou fell 9.04%. However, the decline came to a halt and paper closed with a 4.21% contraction, to $ 33,698.
Meanwhile, the series A share fell 3.62% and that of the Cascade company Oro Blanco fell 4.38%. The IPSA, the main indicator of the local stock market, fell 0.53% to 4,134.20 points.
This Wednesday, once the market was closed, SQM informed the Financial Market Commission (CMF) that the company’s board of directors agreed to propose to its shareholders a capital increase of US $ 1,100 million to finance the investment plan for the 2021 period -2024, which adds up to about $ 1.9 billion.
The operation considers the issuance of 22.4 million series B shares of the company, mainly involving foreign investment funds (through ADRs) and AFPs. As reported, this vote will require the approval of 2/3 of the Series A shares, granting withdrawal rights to dissident shareholders of that category, and a majority of the Series A and B shares voting together as one. class.
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