Chile’s SalfaCorp To Raise $258M

Chilean construction company,SalfaCorp, will raise $258 million to finance its 2011-2013 expansion plan,The Wall Street Journalreports. The company is planning to offer 75 million new shares for the capital increase, about 15.8% of the company's shares in circulation.

Salfacorp will use 20% of the proceeds to fund the acquisition ofEmpresas Tecsa. The remaining proceeds will be used to finance additional acquisitions and as working capital.

Click here for the story fromThe Wall Street Journal.