Mexico's Grupo Gigante to seek share capital increase

jueves 20 de agosto de 2015 23:00 GYT
 

MEXICO CITY Aug 20 (Reuters) - Mexican retailer Grupo Gigante said on Thursday it would propose raising its equity capital at a shareholders' meeting on Sept. 8, a step which it said could be used to fund borrowing and help the business to grow.

In a statement, the company said the sum of its variable share capital raised would be determined at the meeting "with the intention of carrying out business plans and expansion of its most important segments and subsidiaries."

The move is also aimed at improving liquidity of the shares, it added. (Writing by Dave Graham)