Compania Cervecerias Unidas (CCU), a Chile-based beverage producer, plans to secure $694m by issuing new shares as part of strategy to expand operatios.
CCU recently reported a revenue of $620.67m in the first quarter of 2013, up 8%, compared to revenue in the same period last year.
The company also posted a net profit of $85.3m, up 0.2%, in Q1 2013 compared to same period in last year.
The amount will be used to finance its organic and inorganic expansion plans and maintain a good financial position, reported foxbusiness.com.
CCU produces and sells tea, sports and energy drinks, carbonated beverages, non-carbonated beverages, fruit juices, mineral water, sparkling and still water, purified water along with spirits and beer in Chile, Argentina, and Uruguay.
The company sells beverages under 12 proprietary brands and four licensed brands of companies, including PepsiCo, Schweppes Holdings, Nestle and others.
