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CSAV auctions $25.3m in shares and announces second pre-emptive right period

CSAV auctions $25.3m in shares and announces second pre-emptive right period
Compañía Sudamericana de Vapores (CSAV) has raised $25.3m through the auction on the Santiago stock exchange of 742,153,548 shares as part of its ongoing capital increase of $400m, CSAV said in statement. 

Of the auction total, 44% of the shares were adjudicated to foreign investors and 56% to local investors and the amount which is in addition to the $357m obtained in the first preferential option period of the capital increase. The remaining shares will be offered again to shareholders in the second pre-emptive right period which opens on 24 January and closes on 30 January.  

The proceeds were used to subscribe for the capital increase of Hapag-Lloyd following the merger for EUR370m, through which the Chilean company increased its shareholding in Hapag-Lloyd from 30% to 34% and cover the transaction closure expenses