General view of the corner flag inside the stadium before a match. Allianz Stadium, Turin, Italy - January 19, 2020. REUTERS/Massimo Pinca
(Reuters) -Juventus said on Thursday that its board approved a capital increase of up to 37.9 million new ordinary shares, equivalent to roughly 10% of its existing stock, through a sale of shares to institutional investors.
The Serie A club said controlling shareholder Exor, holding approximately 65.4% of the club, pledged to fully subscribe to the capital increase.
Cryptocurrency group Tether Investments, which holds around 11.5%, said that it would also participate for an amount equal to its stake and may acquire any unallocated shares.
The deal is worth up to around 1.5 million euros ($1.7 million) and will allow both shareholders to keep their stakes unchanged after the capital increase.
($1 = 0.8672 euros)
(Reporting by Laura Contemori; Editing by Matt Scuffham)
