Grupo Security Successfully Completes Capital Increase
97.26% of the new shares issued were subscribed.
Grupo Security has successfully completed the preferential subscription period that is part of its capital increase. Carried out under the advice of Banchile Corredores de Bolsa S.A. and Banchile Citi Global Markets, this capital increase process of approximately 437 million shares began in July after the group obtained the appropriate authorization from the Superintendency of Securities and Insurance (SVS). A total of 425 million shares were subscribed at Ch$220 per share, raising Ch$93,424 million. Current shareholders responded to the capital increase, committing to 97.26% of the new issue of shares.
The funds raised will be used to capitalize the subsidiaries Banco Security and Inversiones Seguros Security, which includes the companies Vida Security and Protecta, the latter in Peru. This will allow the group to strengthen the capital base of its main assets, Bank and Life Insurance, and to sustain growth above the industry rates. This is the ninth capital increase in the history of Grupo Security.
Grupo Security shares have registered average annual growth of +15.8%, 7.9% and 15.5% in the past 5, 10 and 15 years, respectively. This exceeds the 4.3%, 4.8% and 11.5% reported by the IPSA for those same periods.
Grupo Security is a diversified financial group that includes 13 companies structured in four main business areas, each of which groups together subsidiaries and divisions that share common business objectives. These areas are finance, insurance, investments and asset management, and complementary services.