Vapores stock auction

The sale of a package of shares of the South American Steam Company, equivalent to almost 5% of the company's ownership, was an excellent opportunity for the Luksic group to increase its stake in the company.

As announced days before, the auction started with a minimum price of $ 25 per paper, but the bid between the brokers LarrainVial and Consorcio raised the price to $ 26.35 per share.

This price represents not only a prize of 5.4% with respect to the minimum sale price, but also located 5.87% above yesterday's closing price.

Finally it was LarrainVial, the broker who sold the titles, who won the package. With this, the operation raised a total of $ 47,430 million (US $ 66.3 million to today's dollar).

Hours after the operation, the company informed through an essential fact that the buyer of the package was the Luksic group's holding company, Quiñenco, who increased its stake to 61.45%.

As confirmed by the document sent to the Santiago Stock Exchange, the purchase itself was made through the Inmobiliaria Verde Verde company, one of the firms through which Quiñenco participates in the shipping company, along with Inversiones Río Bravo.

The operation comes at a good time for the roles of Steamers. Although it does not compare with the meteoric rise in the shares of its main asset, the Hapag-Lloyd shipping company, which has almost tripled its stock market value in 2019, the Chilean firm's titles are among those that have performed better in The Chilean stock market this year.

At this time, the titles of Steamers traded at $ 26.30, representing a rise of 5.66% compared to yesterday's close.