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Banco de Chile $500 mln capital increase approved
January 20, 2011 / 3:48 PM / in 7 years

Banco de Chile $500 mln capital increase approved

SANTIAGO, Jan 20 (Reuters) - Shareholders of Chile’s No. 2 bank, Banco de Chile CHI.SN, on Thursday approved a capital increase of around $500 million aimed at shoring up its balance sheet, the bank said.

Banco de Chile is controlled by LQ Inversiones Financieras (LQIF). LQIF, in turn controlled by Chile’s Luksic family and Citigroup (C.N), said earlier on Thursday it would forego its preferential option to subscribe to the capital increase to boost liquidity of the shares. (Reporting by Antonio de la Jara, editing by Gerald E. McCormick)

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