Financiera Independencia Announces Subscription of 79,904,401 Shares in Rights Offering Process and Commences Second Round of Rights Offering Process

Jan 19, 2010, 17:15 ET from Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R.

MEXICO CITY, Jan. 19 /PRNewswire-FirstCall/ -- Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (BMV: FINDEP) ("Independencia" or the "Company"), a Mexican microfinance lender of personal loans to lower income segment individuals, announced today that on January 15, 2010 it completed the Rights Offering Process of the 85,000,000 share capital increase first announced on November 30, 2010. A total of 79,904,401 shares were subscribed at the issue price of Ps.10.00 per share. The remaining 5,095,599 shares not yet subscribed will be offered for subscription to all of the Company's shareholders in a Second Round of Rights Offering Process at the issue price of Ps.10.00 per share. Under the Second Round Process, the Company's shareholders shall have the right to subscribe and pay, additionally and proportionally among them, as many shares as it may be necessary in order to exercise a right to increase their equity holding percentage proportionally. The shares to be subscribed during the Second Round Process shall be subscribed and paid for no later than February 5, 2010.

Proceeds of the capital increase will be used to finance the Ps.530 million acquisition of Financiera Finsol, S.A. de C.V., SOFOM., E.N.R., the second largest group lending microfinance institution in Mexico, and group of related entities, including Finsol Brazil, as announced on November 30th, 2009. Proceeds will also be used to provide up to Ps.300 million of capital to strengthen the balance sheets of the companies to be acquired.

About Financiera Independencia:

Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (Independencia), is a Mexican microfinance lender of personal loans to individuals. Independencia provides microcredit loans on an unsecured basis to individuals in the low-income segments in Mexico in urban areas of both the formal and informal economy. As of September 30, 2009, Independencia had a total outstanding loan balance of Ps.4,793.1 million, operated 198 offices in 143 cities throughout 31 of Mexico's 32 federal entities and had a total labor force of 9,586 people. The Company listed on the Mexican Stock Exchange on November 1, 2007, where it trades under the symbol "FINDEP". More information can be found at www.independencia.com.mx

Some of the statements contained in this press release discuss future expectations or state other forward-looking information. Those statements are subject to risks identified in this press release and in Financiera Independencia's filings with the Mexican Stock Exchange. Actual developments could differ significantly from those contemplated in these forward-looking statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Our forward-looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise.

This press release does not constitute an offer for the sale of or a solicitation of offers to purchase any securities.  The shares expected to be issued in the capital increase will not be registered under the US Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SOURCE Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R.



RELATED LINKS

http://www.independencia.com.mx