SANTIAGO, Chile--(BUSINESS WIRE)--Parque Arauco, S.A. (SSE: PARAUCO; Bloomberg: PARAUCO:CI) had more than 95% of its new shares subscribed to and paid for by current shareholders at a price of $900 during the preemptive rights offering which ended on March 19, 2014. Within less than 48 hours, the remaining 5,554,434 shares were sold during a public auction at the Santiago Stock Exchange on Friday, March 21, 2014 for $971 each. The stock closed at 975.75 on Friday. The Company sold 115 million shares to raise funds to finance projects in Chile, Peru and Colombia.
Parque Arauco, S.A. is a leading Latin American shopping mall developer and operator with a presence in Chile, Peru, and Colombia. The company, headquartered in Santiago, Chile, currently owns or has an interest in 27 retail real estate properties comprising approximately 693 thousand square meters. For more information, visit www.parauco.com.