The board of Brazil's Banco Pine has approved a capital increase of between 43.8mn reais and 117mn reais (US$26.2mn and US$70.0mn), the bank said in a statement.
The increase will be made through issuing new preferential shares and, when completed, will give Pine a total capital of between 466mn reais and 540mn reais.
The bank's capital currently amounts to 423mn reais.
Pine set the price for the new shares at 17.2 reais. The subscription period for these shares ends October 10.