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Chilean Stocks: Colbun, Endesa and Empresas La Polar Were Active

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Feb. 29 (Bloomberg) -- The following companies had unusual price changes in Chilean trading. Stock symbols are in parentheses and prices are as of the close in Santiago.

The Ipsa index rose 0.3 percent to 4,535.60. The MSCI Chile index gained 0.3 percent to 2,648.05.

Colbun SA (COLBUN CC), Chile’s third-largest power producer, advanced 0.6 percent to 140.18 pesos. Chile’s government will seek to develop renewable energy sources including hydroelectric dams to boost power supply in the South American nation, Diario Financiero reported on its website yesterday.

Empresa Nacional de Electricidad SA (ENDESA CC) increased 1.6 percent to 845.86 pesos, its highest price since July. The country’s biggest electricity generator isn’t interested in buying shares owned by BG Group Plc in the Quintero liquefied natural gas plant in Chile, it said in an e-mailed statement.

Endesa also said it will merge its operating units including Empresa Electrica Pangue SA and Cia Electrica San Isidro SA, and decided to cut the percentage of 2011 profits it will distribute as dividends to 50 percent from 55 percent, according to separate regulatory filings.

Empresas La Polar SA (LAPOLAR CC) rose 11 percent to 213.96 pesos. Santiago-based brokerage IM Trust SA auctioned on behalf of clients today a total of 16.1 million shares in the company for as much as 195.01 pesos, according to data from the Santiago exchange.

To contact the reporter on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net

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

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