trending Market Intelligence /marketintelligence/en/news-insights/trending/hahyjmzfsi8il36mmaqlfw2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Banco ABC Brasil's board approves capital increase

Shareholder Advocates Say New SEC Policy To Prompt Litigation, Less Transparency

Groups Urge Business Roundtable CEOs To Act On New Corporate Purpose Declaration

State of South Korean OTT Video: Subscription

Global Streaming Media Device Sales Forecast To Flatten In 5 Year Outlook


Banco ABC Brasil's board approves capital increase

Banco ABC Brasil SA's board approved a capital increase worth about 81.48 million Brazilian reais through a private subscription of shares with the issuance of 4,006,308 common shares and 3,757,264 preferred shares.

The capital hike was approved at a Dec. 26 board meeting and will be carried out through interest on shareholders' equity credit or in Brazilian currency, according to a filing.

Shareholders shall exercise their preemptive rights on subscribing the shares in the proportion of about 4.37% of their shareholding position that is held Dec. 29, in the period from Jan. 2, 2017, and Feb. 2, 2017.

The per share issuance price was set at some 10.49 Brazilian reais for both common and preferred shares, based on the weighted average of the bank's last 10 preferred share quotations on the stock market, applying a discount of 20%. The subscribed shares shall be paid up by Feb. 10, 2017, in cash or by using interest on shareholders' equity credits.

"The capital increase is conditional on certification by the Central Bank of Brazil, and will be ratified at a general meeting to be held in the future," the bank said, noting that the subscription must reach a minimum limit of 65% of the total increase.

As of Dec. 26, US$1 was equivalent to 3.27 Brazilian reais.