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General

Algar Telecom announces capital increase

Thursday 12 July 2018 | 14:04 CET | News

Algar Telecom announced it will increase its share capital to accommodate the arrival of a new shareholder. The Brazilian regional telecom operator agreed early this year the sale of a 25 percent stake to Singapore investment group Archy for BRL 1 billion, of which BRL 352 million was paid through the subscription of shares in the capital increase and BRL 648 million in two installments (in 2018 and 2021). Minority shareholders have until 9 August to exercise the preemptive right to take part in the capital increase at the price of BRL 13.39 per share.



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Categories: General
Companies: Algar Telecom
Countries: Brazil
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