Blue-chip stocks in Chile set a new record on Thursday as the initial public offering of local retailer Ripley’s helped other retailers rise on the day.

The second-largest department store chain in Chile, Ripley’s IPO raised $219 toward its expansion ambitions.

The IPO comes after two years of consolidations and share offers by other Chilean retailers.

Last year, Ripley’s reported sales of $1.22 billion and net profits of more than $60 million.

By midafternoon, shares in the retailer were trading at 518.30 pesos, well above their 480 peso auction price.

The Ripley’s IPO triggered sales in other retailers on the Santiago exchange.

Cencosud was up 2 percent to 1,003 pesos, while supermarket D&S gained 1.31 percent to 193.50 pesos.

Department store Falabella rose 3.4 percent to 1,380 pesos. By mid-afternoon local time, the ISPA blue-chip index was up 0.50 percent to 2,094.84, a new record.

The IGPA index was also up, by 0.52 percent to 9,584.91.