Nutrien Closes SQM Shares Auction
Nutrien Ltd. on June 6 announced the closing of the placement of 100 percent of its Series B common shares in Sociedad Química y Minera de Chile S.A. (SQM) to Chilean investors, certain other non-U.S. persons, and to qualified institutional buyers within the meaning of Rule 144A under the U.S. Securities Act of 1933, as amended.
The placement was conducted by means of a bookbuild auction on the Santiago Stock Exchange in a process known as subasta de libro de ordenes, in compliance with Chilean law and the rules of the Santiago Stock Exchange. The stock exchange published the results of the order book auction, with 20,166,319 shares sold at a price of approximately $49.34 per share, for gross proceeds to Nutrien of approximately $1.0 billion.
BofA Merrill Lynch and Goldman Sachs & Co. LLC acted as global coordinators and joint bookrunners for the placement. Banchile Corredores de Bolsa S.A. and BTG Pactual Chile S.A. Corredores de Bolsa also acted as joint bookrunners, with Banchile Corredores de Bolsa S.A. serving as the structuring agent on execution of the placement.