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Name | Symbol | Market | Type |
---|---|---|---|
HSBC Holdings PLC | NYSE:HSBC | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.32 | 3.13% | 43.50 | 44.2339 | 43.57 | 44.05 | 3,406,062 | 01:00:00 |
SÃ O PAULO—Brazilian lender Banco Bradesco SA plans to increase its capital by 3 billion reais ($782 million) by issuing 164.8 million new shares.
The new shares will be divided almost evenly between ordinary and preferred shares. The bank's shareholders will vote on the plan at a meeting on Dec. 17, the bank said Monday in a regulatory filing. Bradesco's preferred shares were down 0.7% to BRL21.35 at 2:13 p.m. local time and new preferred shares will be offered to shareholders at BRL17.21 apiece.
The money will be used to shore up the bank's balance sheet and to permit new investment as opportunities arise, Bradesco said in the note.
Bradesco agreed in August to buy the Brazilian business of HSBC Holdings PLC. for $5.2 billion, the Brazilian lender's biggest such deal ever. The bank said in late October that it expects to post an expansion of its credit portfolio of between 5% and 9% this year and that its nonperforming loan ratio increased to 3.8% in the third quarter from 3.7% in the second quarter.
Rogerio Jelmayer contributed to this article.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 16, 2015 12:25 ET (17:25 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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