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CSAV launches roadshow for $200m capital increase

CSAV launches roadshow for $200m capital increase

Chile’s CSAV started a roadshow for investors for a $200m capital increase on 7 July.

CSAV is restructuring ahead of its planned merger with Hapag-Lloyd. The shares are priced at $28.13.

Quiņenco Holdings, CSAV main shareholder, expressed its commitment to purchase the remaining shares not subscribed to. "The mechanism established to set the share price, and the engagement of our controlling shareholder, is a sign of confidence in the company,” said CSAV ceo Oscar Hasbun.

The capital increase approved in March by shareholders aims at completing the financing for the acquisition of seven new 9,300 teu container vessels currently under construction, in addition to meeting certain conditions to the closing of the eventual merger of business with the German shipping line Hapag-Lloyd.

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