Morgan & Morgan

Morgan & Morgan

507.265.7777
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Morgan & Morgan
MMG Tower, 23rd Floor Ave. Paseo del Mar, Costa del Este Panama City Rep. of Panama

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507.265.7777 | [email protected]
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Sunday, 31 July 2022 / Published in expertise, Francisco Arias, Miguel Arias_exp, Ricardo Arias, Roberto Vidal, Securities and Capital Markets_news

Morgan & Morgan Legal advised Mercantil Servicios Financieros Internacional, S.A. in the issuance of Class “A” and Class “B” common shares for an amount of up to US$30 million.

Panama, July 31, 2022. Morgan & Morgan Legal advised MERCANTIL SERVICIOS FINANCIEROS INTERNACIONAL, S.A. (the “Issuer”), the holding company of Mercantil Group and the indirect holder of leading enterprises in the banking and insurance business in Panama and other countries, in the issuance of Class “A” and Class “B” Common Shares for a total of US$30,000,000.00 (the “Common Shares”), which were successfully placed. The offer of the Common Shares was made to the Issuer’s pre-existing shareholders in order to increase its share capital, which constitutes an offer exempt from registration with the Superintendency of Capital Markets of Panama (the “SMV”) under the provisions of paragraph (a) of numeral 4 of article 129 of the Single Text of Decree Law 1 of July 8, 1999 (the “Securities Law”).

The funds received by the Issuer as a result of both offerings will be used by the Issuer to finance the growth of its operations, amongst other purposes in its ordinary course of business.

Partners Francisco Arias G., Roberto Vidal and Ricardo Arias A., and international associate Miguel Arias participated in this transaction.

 

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