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Brazil's central bank approves Itaú’s 12B reais capital stock increase


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Brazil's central bank approves Itaú’s 12B reais capital stock increase

Banco Central doBrasil gave the green light to ItaúUnibanco Holding SA's planned 12 billion Brazilian reais .

The central bank approval follows a Sept. 14 shareholder decisionthat authorized the bank to increase its capital to 97.15 billion reais from about85.15 billion reais.

With the capital increase, which entails the issuance of 598,391,594new shares, Itaú will give shareholders of record as of Oct. 17 an extra share forevery 10 they hold.

Similarly, investors in the bank's NYSE-listed ADRs will receiveone new ADR for every 10 already held, while those holding Buenos Aires Stock Exchange-listedArgentine Certificates of Deposit will receive one new CEDEAR for every 10 held.

As of Sept. 29, US$1 wasequivalent to 3.22 Brazilian reais.