Thursday , June 24 2021

Inmobiliaria Manquehue debuted on the stock market



Investment banks have seen the demand for the transaction, which exceeds the bid more than three times.

CAs Diario Financiero announced last night, Inmobiliaria Manquehue opened the stock market with a prize price of $ 210 per share.

The company decided to drop the minimum price of $ 222 and was estimated at $ 185 million.

The market obviously did not have much interest in opening the stock market, which was considered as a "nish" operation.

And although there are some investors who doubt the work of construction companies and real estate in the future, the profitability of the securities in the sector is positive.

Four construction companies are among the 10 indexes of IGPA, which group most of the shares registered in the country with better results over the past three months, with a return of more than 10%. Echeverría Izquierdo (EISA), with an escalation of 23.39%; followed by Socovesa (17.61%), Moller (14.13%) and Besalco (13.43%). During this period, IGPA hired 4.44%.

Investment banks have seen the demand for the transaction, which exceeds the bid more than three times.

"The company, which introduced a set of attributes to the market, is super-creative," says Heinrich Lesau, Corporate Finance Manager of Credicorp Capital.

In this respect, the executive power highlights the interest of the operation, given that the market has less activity in the holiday season.

Regarding the way the IPO landscape looks the rest of the year, Lessau argues that "it will be one year more active than previous years" and that the business will come from well-known and new sectors.

Although no AFP has been involved in the operation, BTG Pactual claims that around ten small-equity funds have participated in the opening, which manages pension funds as "major investors," says financial manager Jose Ignacio Zamorano.

"AFP indirectly invested more than two-thirds of the stock, which was fairly balanced," the executive said.

Small-equity funds were the biggest buyer of the day, with 63% of the offer being lent, and insurance companies – 15%.


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