The board of Chilean financial holding Grupo Security has approved a 66bn-peso (US$100mn) capital increase through a share issue, Grupo Security said in a statement sent to the local regulator SVS.
Proceeds will be used to finance growth among the group's subsidiaries over the next three years.
The board also called for an extraordinary shareholder meeting on December 29 to approve the capital increase, the statement reads.
The transaction will lift Grupo Security's equity to 320bn pesos.
Grupo Security's main asset is Banco Security, which last month approved a 40bn-peso capital increase.
The group also operates in the insurance, real estate, fund manager, factoring and tourism businesses.
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