CITICORP SECURITIES, INC. CO-LEADS PUBLIC OFFERING FOR SANTA ISABEL, S.A. OF CHILE.NEW YORK--(BUSINESS WIRE)--July 1, 1996--Santa Isabel S.A., a Chilean supermarket company, this week completed a public offering of 3.7 million American Depositary Receipts American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. (which includes an overallotment option overallotment option See greenshoe. of 0.4 million ADRs) priced at $26. The underwriting group was led by Citicorp Securities, Inc. and Paine Webber Paine Webber and Company was an American stock brokerage firm that was acquired by the Swiss bank UBS AG in 2000. The company was founded in 1880 in Boston, Massachusetts, by William Alfred Paine and Wallace G. Webber. Inc. as global coordinators and joint lead managers, with J.P. Morgan and Smith Barney as co-managers. The Santa Isabel offering was a landmark transaction as the first fully secondary offering in Chile, and the second fully secondary offering in Latin America. Each ADR ADR - Astra Digital Radio represents fifteen common shares. Santa Isabel, based in Valparaiso, is the largest operator of supermarkets in Chile and operates the second largest supermarket chain in Peru in terms of net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight . The company also operates the largest supermarket chain in Paraguay. Santa Isabel's business has grown substantially in the past five years in Chile, especially in regions outside Santiago and since 1993, in Lima, resulting in a base of strategically located stores and strong name recognition. All shares in the offering were sold by the controlling shareholder, Mr. Eduardo Elberg, who has announced that he will retain ownership of approximately 40% of the company and will remain as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and chairman of the board. In 1995, Citicorp Securities, Inc., together with Paine Webber, Inc., acting as joint global coordinators, completed the first international equity underwriting for Santa Isabel. This was also Citicorp's first equity underwriting in the United States. Citicorp Securities, Inc. is a subsidiary of Citicorp, the US bank holding company of Citibank, which has a network of offices in 98 countries and territories. Citicorp is a leading underwriter of emerging markets debt. CONTACT: Ken Campbell, Citibank 212/559-0048 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion