SÃO PAULO--Brazilian lender Banco Bradesco SA plans to increase its capital by 3 billion reais ($782 million) by issuing 164.8 million new shares. The new shares will be divided almost evenly between ordinary and preferred shares. The bank's shareholders will vote on the plan at a meeting on Dec. 17, the bank said Monday in a regulatory filing. Bradesco's preferred shares were down 0.7% to BRL21.35 at 2:13 p.m. local time and new preferred shares will be offered to shareholders at BRL17.21 apiece. The money will be used to shore up the bank's balance sheet and to permit new investment as opportunities arise, Bradesco said in the note. Bradesco agreed in August to buy the Brazilian business of HSBC Holdings PLC. for $5.2 billion, the Brazilian lender's biggest such deal ever. The bank said in late October that it expects to post an expansion of its credit portfolio of between 5% and 9% this year and that its nonperforming loan ratio increased to 3.8% in the third quarter from 3.7% in the second quarter. Rogerio Jelmayer contributed to this article. Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
Banco Bradesco , Brazil 's second biggest private sector lender, plans to raise BRL 3bn ( $5.2 billion ) to boost capital by issuing 164.8 million new shares. Banco 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 3.8% 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 .