Shearman & Sterling represented Inversiones La Construcción S.A. (ILC) and the selling shareholders Cámara Chilena de la Construcción A.G. and Fondo de Inversion Privado ILC in connection with the global offering of 32,193,892 shares of ILC’s common stock. The offering, which closed on July 24, raised US$468 million, making it the largest initial public offering in the Santiago Stock Exchange’s history.
ILC provides retirement, insurance, healthcare and educational services and is the for-profit arm of the local construction trade group Cámara Chilena de la Construcción A.G. The global offering included a retail offering in Chile, an offering outside the United States to certain institutional investors in reliance on Regulation S, and a private placement in the United States to QIBs, as defined in and in reliance on Rule 144A.
The following Shearman & Sterling team advised ILC in the transaction: partners Antonia Stolper (New York-Capital Markets) and Don J. Lonczak(Washington, DC-Tax) and associates Grissel Mercado (New York-Capital Markets), Quentin Wiest (New York-Capital Markets), Rita de la Guardia (New York-Capital Markets) and Daniel Nicholas (Washington, DC-Tax).
