Inversiones la Construccion (ILC)
Inversiones la Construccion (ILC) is a Chilean conglomerate that provides key services to the country’s development through pension programs, healthcare sector provider, insurance, education and technology services.
Recently, the company (which is controlled by the Chilean Chamber of Construction AG) embarked on the largest IPO launch in Chilean history. At over $468 million, the offering involved a number of investment banks and legal teams. This success story details how ILC saved time and resources by using Intralinks to navigate some of the typically most daunting concerns of an offering launch.
“ IntraLinks was a timesaver. It allowed me to concentrate on more important aspects of the offering. We would definitely use Intralinks again."
– Javier Galdames Cerda, Head of Development, Inversiones La Construccion
For the launch, ILC would be collaborating with a transnational team; 32 people from Chile to the US who would need different levels of access to the IPO’s key data. For ILC, that meant organizing and compiling thousands of pages of sensitive legal documentation, financial statements, executive board records, and personnel information in an online deal exchange. The challenge ahead for ILC was to upload, distribute a myriad of information among many different partners— while maintaining the integrity of the IPO, easy access to documents and complete confidentiality.
Preparing so many legal documents —8 GB of data, organized mere Kilobytes at a time—could be time-consuming and rob valuable ILC personnel from more important tasks on the offering. To complicate matters, special file formats, such as scanned images, needed to be accessible to all users without the usual technical hiccups. Lastly, operational security had to be maintained. Leaks and unauthorized access to the offering information could potentially ruin the IPO launch, as well as ILC’s reputation as the administrator.
To manage the upload and distribution of this large volume of launch documents, ILC adapted the Intralinks platform. They found dealspace as a secure, enterprise-grade solution that would put the IPO documents into an online exchange without limitations to file sizes or specific formats. Dealspace was also one of the few solutions that provided the robust security and management tools needed for an offering of this scale... from document-level permissioning to a design feature that would let ILC tailor the online repository to their users’ specific working environment.
The IPO was approved in July 2012, with IntraLinks saving ILC noticeable time and resources on what could have been time-and resource-consuming tasks. For example, Intralinks Designer, a native Dealspace feature, had a file conversion tool that let even ILC’s users automatically convert tons of image files to the easily-read PDF format. In only minutes, Dealspace’s Intralinks Designer tool let ILC organize the deal exchange in a visually logical manner. And all the way to launch, ILC administrators were able to open and restrict access as needed, so that personnel received only the documents they were supposed to, with no risks of security breaches or distribution errors.
With the automation and operational peace of mind IntraLinks provided, the ILC team was free to focus on the more important parts of the offering. Dealspace brought key features to the process, including 360-degree security (including document watermarking, user-level permissions and print restrictions), and the ability for users to convert and upload hundreds of document files in no time. Paired with an easy-to-use interface that required little or no learning curve, the platform put the key IPO documents up while saving the company up to 50% in time and resources. For ILC, Dealspace kept the painstaking IPO process in complete control during this landmark equity offering.