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Multifinanzas Compania Financiera proposes capital hike

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Multifinanzas Compania Financiera proposes capital hike

Multifinanzas Compania Financiera SA will propose to its shareholders on Feb. 28 a capital increase worth 10.0 million Argentine pesos, to be implemented through the issuance of new shares.

The capital hike is in line with the capitalization of the bank's subordinated negotiable obligations of the same amount.

Shareholders will also vote on a capital increase worth 15.2 million pesos through the capitalization of an irrevocable contribution for the issuance of shares accepted by the board Sept. 22, 2017.

Separately, Multifinanzas Compania Financiera said its board Jan. 31 accepted the proposal of irrevocable contribution for future issues of shares for capital increase worth 15.7 million pesos. The contribution was offered by Horacio Gabriel Angeli.

As of Jan. 31, US$1 was equivalent to 19.63 Argentine pesos.