SQM shares plummet following Potash Corp withdrawal

Wed Mar 18, 2015 12:32pm EDT
 
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SANTIAGO, March 18 (Reuters) - Shares in Chilean fertilizer group SQM fell as much as 26 percent on the Santiago bourse on Wednesday, hitting their lowest level since October 2008, after three Potash Corp directors resigned from the board.

The shares had earlier been halted after falling 12 percent.

Three representatives on SQM's board from Canadian stakeholder Potash Corp resigned on Tuesday evening in protest at its handling of a campaign financing scandal that has shaken the Chilean establishment.

SQM's Nasdaq-listed ADRs fell 23 percent. (Reporting by Rosalba O'Brien)