Note to the Market | Banco Itaú Chile Announces ADS Ratio Change
16 May 2023 - 9:43AM
As previously announced, at the extraordinary shareholders’ meeting
of Banco Itaú Chile (the "Company") held on January 19, 2023, the
shareholders approved several amendments to the Company’s by-laws.
One of these amendments was the decrease of the number of common
shares into which the Company’s equity capital is divided (the
“Reverse Stock Split”). As a result of the Reverse Stock Split,
each shareholder will receive one new common share in exchange for
each 4500 common shares of the Company. This amendment to the
by-laws was approved by Comisión para el Mercado Financiero of
Chile, or the CMF, on March 28, 2023.
In relation to the Reverse Stock Split, the Company hereby
informs that, to reflect the Reverse Stock Split, the number of
common shares represented by each American Depositary Share ("ADS")
representing its common shares will change from one thousand five
hundred common shares to one third of one common share (the “ADS
Ratio Change”). The ADS Ratio Change will reflect the Reverse Stock
Split and will not result in any change in the number of ADSs
outstanding or the proportion of the Company’s common shares held
via ADSs. No fractional new ADSs will be issued in connection with
the ADS Ratio Change.
The Reverse Stock Split and ADS Ratio Change is expected to
become effective on 0:01 a.m. ET, May 26, 2023, with respect to the
ADS holders registered at the midnight of May 25, 2026. ADS holders
will not be required to take any action in connection with the ADS
Ratio Change. The Company’s ADSs are expected to continue to be
traded on the New York Stock Exchange under the symbol ITCL and the
CUSIP will remain unchanged.
About Banco Itaú ChileBanco
Itaú Chile is a publicly traded company organized under the laws of
Chile and licensed by the CMF to operate as a commercial bank. In
addition to its presence in Chile, the Company also has operations
in Colombia and Panama, a branch in New York City, United States
and a representation office in Lima, Peru. The Company provides a
broad range of wholesale and retail banking services to its
customers in Chile and Colombia. In addition, the Company provides
financial advisory services, asset management, insurance brokerage
and securities brokerage services through its subsidiaries, and
banking services through its New York Branch.
The press release is also available on the
company’s investor relations website at ir.itau.cl.
Investor Relations Itaú Chile
+56 (2) 2660-1701 / ir@itau.cl Website: ir.itau.cl | Indeed/Itaú
Chile | facebook.com/itauchile | Instagram @Itauchile.
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