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Chile's Penta Vida completes capital increase of 30B pesos

Chilean life insurer Penta Vida Compañía de Seguros de Vida SA has completed a capital increase worth nearly 30 billion Chilean pesos through the issuance of new shares, the company said in a securities filing Dec. 16.

Shareholder Inversiones Banpenta II Limitada subscribed and paid for 32.71 million new shares worth 29.96 billion pesos, the insurer said.

The company's board approved the capital increase in July and shareholders gave their consent in August.

According to previous Penta Vida filings, the capital increase is designed to fund the company's growth plans.

As of Dec. 15, US$1 was equivalent to 664.85 Chilean pesos.