Capital increase and stock split
At a meeting held today in Barcelona, the General and Ordinary Shareholders’ Meeting of Renta Corporación has approved a capital increase of 13.5 million euros. The increase is to be met by reserves and will be achieved by increasing the par value of company shares. The par value of one share was set at 11 euros.
Share capital following the increase rose to 21.9 million euros, with total equity of 61.2 million euros. To push more shares into circulation, the meeting also approved a resolution to carry out a stock split by lowering the value of each share.
Following this move, the current par value of one share will be 1 euro, meaning that there will be 11 new shares for each old one.