Colombian BBVA Bank Issues Ordinary Shares

BOGOTA (Reuters) – The Colombian unit of bank BBVA has issued ordinary shares worth 877 billion pesos ($218 million), according to a statement from the Colombian stock exchange on Tuesday.

The Colombian unit issued 3.24 billion shares at a price of 270 pesos each in an initial tranche. Additionally, a further 152.7 million shares will be issued in a second tranche at a later undisclosed date.

BBVA had announced the share issuance in April, indicating that the funds would strengthen capital to support its growth in Colombia.

($1 = 4,023.92 Colombian pesos)