February 11, 2019 |
Bradesco and Lojas Renner in Brazil have proposed capital increases by issuing bonus shares from profit reserves.
Bradesco plans to raise capital by BRL8bn ($2.14bn) by issuing 1.34bn new shares, split between common and preferred shares, the bank said in a securities filing.
Shareholders will receive two new shares for every 10 shares they hold. The bank's capital stock will rise to BRL75.1bn from BRL67.1bn after issuing the new shares, Bradesco said.
Bradesco also said it expects the capital
Brazilian bank and department store dip into profit reserves to issue more shares