Bradesco completed subscriptions for its R$10 billion capital increase after selling every remaining receipt at a B3 auction on 2 October. Its board then ratified the full issue of 604,852,753 new shares. The increase remains subject to approval by Banco Central do Brasil.
The Brazilian bank offered receipts for 1,505,454 ordinary shares and 14,553,057 preference shares at the final auction. They sold at R$15.50 and R$17.86 respectively, generating gross proceeds of R$283.25 million at that stage. Independent Brazilian reporting confirmed the auction’s completion and the board’s ratification.
THE OFFER REACHED ITS FULL TARGET
The completed subscription comprises 302,876,396 ordinary shares issued at R$15.43 each and 301,976,357 preference shares issued at R$17.64. Bradesco said the auction produced an additional R$3.31 million premium, which will be allocated to a capital reserve.
The final result advances the transaction beyond the earlier pre-emptive-rights stage, when investors had subscribed about 402.5 million shares and a substantial balance remained available. The sale of all remaining receipts allowed the board to ratify the full amount rather than approve a partial increase.
CENTRAL-BANK APPROVAL REMAINS OUTSTANDING
After regulatory approval, Bradesco’s stated capital would rise from R$93.77 billion to R$103.77 billion. The bank would then have 11,196,864,781 shares, split between 5,606,747,177 ordinary shares and 5,590,117,604 preference shares.
Bradesco said the new shares would be credited to subscribers within three business days after the central bank ratifies the increase. They would become eligible for dividends, interest on shareholders’ equity and other distributions from that approval. The regulator’s decision is therefore the next formal milestone before the enlarged capital takes effect.