First Chilean IPO since 2013 canceled due to lack of interest
SANTIAGO Dec 3 (Reuters) - Chilean natural gas distributor Lipigas canceled an initial public offering on the Santiago stock exchange Thursday evening after offers from investors failed to surpass the minimum price the company had set, the distributor said in a release.
The offering, which was planned for Friday, would have been the first IPO in Chile since 2013.
Lipigas had planned to offer up to 34.1 million shares, equivalent to a 27 percent stake, a document posted on its website in November said.
The company said in November it had planned some 350 billion Chilean pesos ($499.15 million) in capital expenditures in the 2016 to 2020 period. ($1 = 701.1900 Chilean pesos) (Reporting by Gram Slattery)
© Thomson Reuters 2016 All rights reserved.