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Investors subscribe to additional shares in Banco Mercantil do Brasil offering

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Investors subscribe to additional shares in Banco Mercantil do Brasil offering

Banco Mercantil do Brasil SA said investors have subscribed to an additional 2,955,856 new ordinary shares as part of a capital increase approved in August.

Shareholders subscribed to about 2,931,616 new ordinary shares in the first period of the offering, with the additional subscriptions bringing the offering's proceeds to about 55.9 million Brazilian reais.

The 428,318 leftover shares that still remain unsubscribed will be offered during a new subscription period running from Oct. 4 through Oct. 10, according to a regulatory filing.

As of Oct. 3, US$1 was equivalent to 3.15 Brazilian reais.