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Grupo Security Successfully Completes Capital Increase and Raises US$113.4 Million

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Grupo Security Successfully Completes Capital Increase and Raises US$113.4 Million

The preferential option period for Grupo Security's capital increase concluded successfully yesterday. This culminates the process initiated in April after being approved at an extraordinary shareholders' meeting. A total of 301,408,069 million shares were subscribed, raising Ch$57,268 million.

The placement price was Ch$190 per share, which included an option to subscribe approximately 0.25 shares for each share subscribed in the first round during a two-year period at the same share price.

Renato Peñafiel, CEO of Grupo Security, highlighted the favorable outcome, especially given the present uncertainty in international financial markets, which confirms its shareholders' backing and trust in the group's business strategy and especially in its recent acquisition of the Cruz del Sur companies, which strengthens the group's insurance and third-party asset management businesses.   

The capital increase process was advised by IM Trust and BCI and funds raised will be allocated to finance part of the acquisition of the financial businesses operating under the Cruz del Sur brand.               

Today Grupo Security is a diversified financial group with market capitalization of close to US$1,100 million and total assets of around US$15,000 million. The group has 12 companies in the lending, insurance, services and asset management industries.