BOGOTA (Reuters) – The Colombian unit of bank BBVA has issued ordinary shares worth 877 billion pesos ($218 million), the Colombian stock exchange said in a statement on Tuesday.

The Colombian unit issued 3.24 billion shares at a price of 270 pesos each in an initial tranche, the statement said, adding that a further 152.7 million shares will be issued in a second tranche at an undisclosed later date.

BBVA had trailed the issue in April, saying the money from the share issue would strengthen capital to leverage its growth in the South American country.

($1 = 4,023.92 Colombian pesos)

(Reporting by Nelson Bocanegra; Writing by Oliver Griffin; Editing by David Holmes)