Banco de Chile (NYSE: BCH) on Thursday (Mar 10) filed before the SEC all necessary documentation to register shares that will be issued during the first stage of its 240bn-peso (US$500mn) capital increase.
SEC's approval will allow bank to offer US investors shares that will be sold in the Chilean market.
On March 15, an extended road show with local investors will begin, Banco de Chile, the country's second largest bank, said in a regulatory filing.
Additionally, on March 15 and 30 a special auction book will open at the Santiago stock exchange related to shares of the bank's controlling investment vehicle LQIF, which has indicated its intention to waive its preemptive rights.
The price per share fixed in the auction will serve as a basis for determining the subscription value of the shares to be included in the first preemptive right period, which will begin March 31 and last for 30 days, the filing reads.