Chile: Votorantim raises capital by US$500m

Chile: Votorantim raises capital by US$500m
Published: 23 July 2010

Votorantim Andina, with a presence in the mining and cement business in Chile, is issuing 500m shares priced each US$1, raising its capital to US$1.258mil, according to the application files in the securities commission SVS.

A larger capital is needed to finance the investments planned over the next years, explains manager Francisco Wilson. Since 2007 Votorantim has zinc mining operations, and also control on the copper mine Ivan; it has 15% on Cementos Bio Bio.