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Bogotá. – Bbva Colombia will issue ordinary shares for up to the equivalent in pesos of 220 million euros, through a public offering, in order to continue executing its strategic plan in the country. The operation was unanimously approved by the entity’s Board of Directors at a meeting held today. The amount and conditions of such issuance, as well as the respective issuance regulations, will be determined by the bank’s Board of Directors.
Likewise, the Bbva Group, majority shareholder with 95% of the shares of Bbva Colombia, informed the Board of Directors of its intention to deliver to the entity the equivalent amount in Colombian pesos of 210 million euros as an advance for future capitalizations, which will be used for the subscription of the common shares to be issued in accordance with the aforementioned.
The proceeds of the issuance will be used to grow the operation in Colombia, in line with the organic growth strategy and the pace of investment that the entity has been making in the country, and will also strengthen its capital ratios, maintaining appropriate management margins above the regulatory minimum in a context of increasing requirements.
