Canadian Algonquin closes IPO for Essal and will own ca. 94% of the Chilean firm

Algonquin Power & Utilities Corp. announced the closing of its Initial Public Offering for the shares of Empresa de Servicios Sanitarios de Los Lagos S.A. (Essal). Algonquin already owned 53.5% of the southern sanitation company after directly acquiring the percentage of Aguas Andinas on October 13 for $92.3 million. After completing today's operation, Algonquin reached 93.96% ownership of Essal, bringing its total investment in Chile to $162.1 million.

Chile’s pension funds join global gold ETP rush

Chilean pension funds have been given the go-ahead by the country’s financial regulator to invest in gold exchange traded products for the first time. The relaxation is part of a brace of reforms in Latin America, alongside Brazil’s decision to allow cross listings of overseas exchange traded funds in the form of depositary receipts, that could help breathe new life into the region’s stuttering ETF industry.