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Investor Relations

Market Closed 04-25-2017 05:40 AM GMT -03:00


 SMU successfully completes USD 200 million IPO

 1/24/2017

SMU S.A. (“SMU” or the “Company”) (Santiago Stock Exchange: SMU) announced on January 24 the successful completion of its initial public offering of shares, for a total gross amount of approximately US$200 million. The Company placed 1,150,000,000 new shares in the market, at a price of Ch$113 per share, with a demand of more than six times the total offering. SMU’s over 1,200 new shareholders include local and international institutional investors, as well as local retail investors.

The new shares were allocated among the different segments of investors as follows: foreign institutional investors, 14%; Chilean pension funds and insurance companies, 25%; retail investors, 20%; existing shareholders, including the controlling shareholder, 28%; small cap and mutual funds, 17%; high net worth investors, 13%; and Company directors and officers, 1.8%.

The proceeds from the IPO will allow the Company to pay down debt, thereby reducing its financing expenses and freeing up cash for the implementation of the Company’s strategic development plan for the coming years.

The Company’s shares began trading today on the Santiago Stock Exchange under the ticker symbol “SMU”, following a ceremony led by the president of the exchange, Juan Andrés Camus, and the chairman of SMU’s board of directors, Álvaro Saieh. Other members of the Company’s board and management team were present, as well, including the vice chairman of the board, Pilar Dañobeitía, and the Company’s CEO, Marcelo Gálvez. Both the Company’s representatives and the bookrunners, BTG Pactual, LarrainVial and Itaú, expressed their satisfaction with the positive results of the transaction.

The president of the Santiago Stock Exchange congratulated SMU on its IPO, which was the first to be carried out on the exchange in 2017.

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