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SANTIAGO - To the chants of fans, Chilean soccer club Universidad Catolica took its battle with rivals off the pitch and on to the bourse on Friday with the third such IPO in the only market with soccer listings in Latin America.
Universidad Catolica joins archrivals Colo Colo and Universidad de Chile in the market, raising about R185million R1,15bn) in an public offering of an 80percent stake by administrator Cruzados SADP.
Shares of Cruzados traded 6,5percent firmer from their debut price in Friday midsession trade at 330 pesos each.
The listing is aimed at repaying debt and could help the white-and-blue beat an international trophy dry spell. Catolica had been studying a listing for two years, but the global financial crisis got in the way. - Reuters