STXNEWS LATAM-Chile's Salfacorp down on word of capital increase

Thu Jan 20, 2011 2:04pm EST

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Shares of leading Chilean homebuilder Salfacorp SAL.SN are trading sharply lower after the company said it would propose a $250 million capital increase at a March 9 shareholder meeting. Salfacorp stock is down 5 percent, helping drag Santiago's blue-chip IPSA stock index .IPSA down 1.1 percent. ((; +562-370-4229; Editing by Andrew Hay))