BVC, Telefonos de Mexico, Vale: Latin America Equity Preview

The following companies may have unusual price changes in Latin American trading. Stock symbols are in parentheses and share prices reflect the previous close.

The MSCI Latin America Index fell 0.5 percent to 4,294.81. Brazil’s markets open for trading after a holiday yesterday.

Brazil

TPI Triunfo Participacoes e Investimentos SA (TPIS3 BS): The Brazilian highway and port operator said its board approved the sale of 180 million reais ($113.1 million) of local bonds due in seven years, according to a statement June 22. The shares slipped 0.5 percent to 9.14 reais.

Vale SA (VALE3) (VALE5 BS): The world’s second-biggest mining company by market value offered to buy all the shares of its fertilizers unit that it doesn’t already own for as much as 2.22 billion reais.

Vale will offer 25 reais for each share of Vale Fertilizantes SA (FFTL4) (FFTL4 BS) in circulation, or about 16 percent of the unit’s total capital, according to a regulatory filing July 22. Vale’s stock climbed 0.5 percent to 43.85 reais. Vale Fertilizantes rallied 2.3 percent to 18.90 reais.

Chile

Quinenco SA (QUINENC) : The holding company owned by the Luksic family sold 7 million unidades de fomento, Chile’s inflation-adjusted accounting unit, or $324 million, of seven- and 21-year bonds. The shares dropped 2.7 percent to 1,614.9 pesos.

Colombia

Bolsa de Valores de Colombia (BVC) : The operator of the country’s main securities exchange expects six or seven companies to sell shares for the first time this year. BVC President Juan Pablo Cordoba estimated companies will raise $3.5 billion in initial public offerings and secondary sales, according to an interview in Santiago yesterday. The shares gained 1 percent to 41.80 pesos.

Mexico

Fibra Uno Admnistracion SA (FUNO11 MM): The Mexican real estate investment trust said it acquired a fifteenth property for 1.3 billion pesos ($109.8 million). The stock added 1.4 percent to 37.60 pesos.

Telefonos de Mexico SAB (TELMEXL MM): Mexico’s largest fixed-line telephone company had its foreign currency issuer default rating raised to A from A- with a stable outlook by Fitch Ratings, according to a statement. The shares slipped 0.3 percent to 9.56 pesos.

To contact the reporter on this story: Jonathan J. Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at dpapadopoulos@bloomberg.net

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