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Chilean Stocks: Corpbanca, Socovesa and Soc. Quimica y Minera

Dec. 2 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of 3:08 p.m. New York time.

The Ipsa index rose 0.4 percent to 4,978.29.

Corpbanca (CORPBANC CC) rose 1.2 percent to 8.273 pesos, recovering some of the ground lost in yesterday’s 3.5 percent drop. Banco do Brasil SA may complete the purchase of a 10 percent stake in the Santiago-based lender by the end of the first quarter next year, Corpbanca Chief Executive Officer Mario Chamorro told Diario Financiero in an interview published today.

Soc. Quimica y Minera de Chile SA (SQM/B CC) advanced 1.5 percent to 25,438 pesos, climbing for the sixth time in seven days. Gains in some global crop and energy prices pointed to increased demand for the fertilizers that Soquimich exports.

Socovesa SA (SOCOVESA CC) rose 5.2 percent to a record 370.14 pesos, the steepest increase in nine months. The real-estate developer and construction company announced a restructuring of its holdings in 12 different subsidiaries, which will be transferred into a single new company to be called Socovesa Inmobiliaria SA.

Also, the construction industry will help sustain Chilean investment growth in the coming months, Finance Minister Felipe Larrain said today during a conference in Santiago.

To contact the reporter on this story: James Attwood in Santiago at jattwood3@bloomberg.net

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

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