CorpBanca is seeking to increase its capital by $744.6 million, The Wall Street Journal reports. As part of the plan, the lender will issue 40.04 billion shares, which is equivalent to 15% of its issued share capital. CorpBanca is planning to increase the capital to strengthen its growth and investment plan. The capital increase is not related to the lender’s proposed sale of up to a 10% stake to Brazilian government-owned, Banco do Brasil.

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