Corpbanca OKs $650m Raise

Corpbanca OKs $650m Raise

Chile M&A Equity

Shareholders of Chile’s Corpbanca have approved a $650m capital increase, in a needed step to finalize the December acquisition of Santander’s Colombia unit, Corpbanca says. The capital increase will result in the issuance of 48bn new shares that Corpbanca hopes to sell between May and June, an investor relations official says. Corpbanca plans to begin a road show in May and expect to have obtained the funds by the end of June. The capital increase comes as a prerequisite to finalizing the acqui

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