Hortifrut's capitalization expanded "at an unprecedented rate" this weekend on the Chilean stock market, as a result of the Public Takeover Offer (OPA) announced by the Canadian fund Public Sector Pension Investment Board (PSP Investment).

As reported by the Diario Financiero, the Hortifrut share shot up 83,59% to $1.325 this Monday morning on the Santiago Stock Exchange.

With this rise, the share reached its highest price since December 17, 2019 and the fruit company reached a market capitalization of $764.953 million.

The news that produced the takeoff was the announcement of a takeover bid by PSP Investment, which currently has 4,88% ownership of Hortifrut.

The Canadian fund reached an agreement with the controlling group of the company - the Moller, Quevedo, del Río and Elberglanzar families - to reach, through the OPA, at least 36% of the ownership of Hortifrut, and aiming to conquer the 49,9%.

Recall that PSP Investment offered to pay US$1,63 per share, which is almost double the closing value of last Friday.