Oi completes capital increase

摘要

Stricken Brazilian telecom giant Oi has announced that it has completed its planned capital increase, in accordance with the company's long-running Judicial Reorganization Plan, and as approved by the board of directors in October 2018. As such, on 25 January 2019 a total of 1,604,268,162 new common shares were subscribed and paid for - representing the balance of new common shares not acquired by shareholders during the exercise period of pre-emptive rights. In total, 3,225,806,451 new common shares have been issued during the capital increase process, generating around BRL4 billion (USD1.1 billion) for the cash-strapped telco.