Press releases 2002
20 December 2002
Banco de Chile joins the ranks of international companies in London
Este comunicado de prensa esta disponible en español también
The London Stock Exchange today welcomed Chile's second largest private bank to its markets. Banco de Chile is the first Chilean company to list in London and its American depositary receipts started trading in London today.
Banco de Chile joins the 470 other international companies that are on the Exchange's markets, gaining the best access to European capital and raising their profile to a global level.
Ian Salter, Deputy Chairman of the Exchange, welcoming Segismundo Schulin-Zeuthen, Banco de Chile's Chairman, and Pablo Granifo, Banco de Chile's President and CEO, said: "More and more international companies are acknowledging the benefits that a London listing can offer in addition to, or instead of, a New York listing. Latin America is a priority market for us. So, we are delighted that Banco de Chile has recognised that by coming to London it will be accessing the largest pool of international capital in the world, as well as raising its profile among investors worldwide."
Banco de Chile is the first company to take advantage of a new simplified route to listing in London, which allows international companies that produce a Form 20-F annual filing for the Securities and Exchange Commission in the United States, to use that filing as a basis for a United Kingdom prospectus.
The London Stock Exchange offers the natural gateway to European and international capital markets. It has three times as much international trading reported to it as the New York Stock Exchange. London also has over US$2.4 trillion in international funds under management - more than any other financial centre in the world.
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For further information, please contact:
Ian Campbell - Press Office, London Stock Exchange, London, UK
email@example.com +44 (0)20 7797 1425
Mariela Vallejos - Press & Public Affairs Officer, British Embassy, Santiago, Chile
firstname.lastname@example.org +56 2 370 4187
Maria Paz Henriquez - Banco de Chile, Santiago, Chile
email@example.com +56 2 388 4738
Javier Peralta - Nexos Comunicaciones, Santiago, Chile
firstname.lastname@example.org +56 2 362 0818
Notes to editors:
Between January and October 2002, three times as much international trading was reported to the London Stock Exchange as the New York Stock Exchange (London £1,221 billion, NYSE 405 billion. Source: World Federation of Exchanges).
According to the most recent survey, there are US$2,460 billion of international funds under management in London compared with US$2,360 billion in New York or US$2,060 billion in Tokyo. (Source: Thomson Financial, International Target Cities Report 2000).
The London Stock Exchange is the number one gateway to equity capital in Europe. So far this year the London Stock Exchange's markets have accounted for 74 per cent of all IPOs in western Europe. (Source: LSE and individual exchange websites).
At the end of November 2002 there were 470 international companies on the London Stock Exchange's markets.
The London Stock Exchange lists a number of products, including shares, bonds, and depositary receipts (such as global depositary receipts, American depositary receipts, euro-denominated depositary receipts and retail depositary receipts).
Banco de Chile is principally engaged in commercial banking in Chile, providing general banking services to a diverse customer base that includes large corporations, small and mid-sized businesses and individuals. For more information visit: http://www.bancochile.cl/