University Católica Approves Capital Increase

It was one of the promises for several months and now it seems to be close to becoming a reality. This Tuesday at an extraordinary shareholders' meeting, Cruzados approved a millionaire capital increase for University Católica and the modification of some social statutes.

At the meeting held at the Atton Hotel, it was specified that it will be done for an amount close to 6 billion pesos, through the issuance of 35,087,720 payment shares of Series A, with the objective of mainly financing three areas.

The strengthening of the professional team, through the acquisition of passes for young and highly promising players, strengthening the work of youth football, and investing in improving the current infrastructure of the institution. On the other hand, as specified by the club, an evaluation is also being made to increase the comfort standards at the San Carlos de Apoquindo Stadium.

After the meeting, President Luis Larraín valued the step taken, and provided more details about what is to come. "It is a process, not a date, that begins today with the approval. In the month of October we would be entering the new shares. We want to strengthen University Católica institutionally and its football."