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Corporate Structure / Subsidiary Companies |
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Banchile Corredores de Bolsa S.A. (Stock Brokerage)
Banchile Corredores de Bolsa maintained its position as thelargest stockbroker in the market in 2004, both in volumes traded and in profit levels. This leadership is reflected in a 27% share of volumes traded on theSantiago Stock Exchange andthe Chilean Electronic Exchange and annual profits of Ch$9,803 million. The firm thus contributed 36% of the profits and 24% of the fee income generated by all the subsidiaries and foreign branches.
The company took part in and managed successful placements during the year. These include the public offering made by Banco de Chile, the first repurchase of shares made in Chile;the placement of Telmex which acquired 99.3% of Chilesat;and the placement of 25-year bonds for Metro.In August, it also made its first trade on Latibex with whichit finally completed its entry to the Madrid Stock Exchange,making it the first Chilean member of that market. This, added to the fact that it has carried out around 50% of the arbitrage trading in Chilean ADRs, gave Banchile Corredores de BolsaS.A. important recognition in that market.
A new business area was established in this company in the middle of the year: Investment Banking, oriented mainly to the generation of capital markets business like the openingup and mergers of companies, bond issues, capital increasesand acquisitions of large companies. Its operations began with the adjudication of 20% of the shares of and important multinational drinks company (CCU), achieving the largest tender placed in the Chilean stock market. |
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