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From Earlier: CorpBanca Raises US$533.3 Million in New Capital

CORPBANCA (NYSE: BCA) raised US$533.3 million in connection with an increase in capital through the issuance of 43,000,000,000 common shares at an offering price of Ch$6.25 per common share. All of such common shares were subject to a preemptive rights offering under Chilean law, which began on May 11, 2012 and ended on June 9, 2012.

As of June 9, 2012, CorpBanca's shareholders exercised their respective preemptive rights and subscribed and paid for 41,454,187,980 common shares (96.41% of the total capital increase) in the amount of US$514.0 million (Ch$259,088.7 million). In connection with the preemptive rights offering described above, our largest shareholder Corpgroup Interhold Limitada, companies related to CorpGroup and Santo Domingo Group subscribed and paid for 26,017,424,260 common shares (60.5% of the total capital increase) in the amount of US$322.7 million (Ch$162,108.9 million).

On June 12, 2012, the remaining 1,545,812,020 common shares (3.59% of the total capital increase) were subscribed and paid for by other existing CorpBanca shareholders in the amount of US$19.3 million (Ch$9,676.2 million). As of June 12, 2012, CorpBanca's capital totaled US$1,823.1 million (Ch$918,758.4 million), which reflects the increase in capital in the amount of US$533.3 million (Ch$268,750.0 million).

Posted-In: News Financing

 

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