Simpson Thacher Represents Initial Purchaser in Inaugural Equity Offering by Socovesa S.A. of Chile
11.06.07
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The Firm recently represented Deutsche Bank Securities, as initial purchaser, in connection with the initial equity offering of approximately 305 million shares of common stock, including in the form of American Depositary Shares, of Socovesa S.A. The shares were sold in a global offering, consisting of a public offering in Chile and a Rule 144A/Regulation S offering to investors outside Chile. The aggregate price to investors for the offering was approximately U.S.$160 million. Socovesa’s shares are listed on the Santiago Stock Exchange.
Socovesa is a leading residential real estate development company in Chile. The company principally develops and sells single-family housing and apartments throughout the country. Socovesa also provides engineering and construction services for governmental and private sector clients in Chile.
The Simpson Thacher team for the transaction included Glenn M. Reiter, Juan Francisco Méndez, Juan Cristobal Schmidt, Jonathan Cantor and Sean Austin.