Banco Bradesco , Brazil 's second biggest private sector lender , plans to spend BRL 3bn ( $ 782 million ) to boost capital by issuing 100 million new shares . Bradesco plans to use the money raised to shore up its balance sheet and to pursue new investment opportunities . Following the announcement , Bradesco 's preferred share price rose 10 % to $ 21.35 . The new preferred shares will be offered to shareholders at a discounted price of BRL 17.21 each . The bank 's shareholders will vote on the proposal at a meeting convened on 17th December .
Banco Bradesco, Brazil's second biggest private sector lender, plans to raise BRL 3bn ($782m) to boost capital by issuing 164.8 million new shares. Bradesco plans to use the money raised to shore up its balance sheet and to pursue new investment opportunities. Following the announcement, Bradesco's preferred share price fell 0.7% to BRL 21.35. The new preferred shares will be offered to shareholders at a discounted price of BRL 17.21 each. The bank's shareholders will vote on the proposal at a meeting convened on 17th December.