Nov 27, 2008. /Lesprom.com/. The Board of Directors of Masisa S.A. agreed to summon an Extraordinary Company Shareholders' Meeting to be held on December 16, 2008, to request its approval for an equity increase of Masisa amounting to $100 million by issuing new cash shares, the company said. Moreover, on this date, the controlling shareholder of Masisa, Grupo Nueva S.A., which currently has a 65.6% total shareholding in the Company, formally informed Masisa of its commitment to subscribe its entire pro rata or pre- emptive right of the mentioned equity increase. A proposal will be put forward at the Meeting that the proceeds of the equity increase be allocated to reducing the Company's short-term liabilities. Furthermore, the Board of Directors agreed to empower Masisa's administration to issue and place one or more series of bonds aimed at the domestic market amounting to the equivalent of UF3,500,000 (three million five hundred thousand "Unidades de Fomento"). Enrique Cibie, Masisa's CEO, affirmed that these operations are in line with strengthening Masisa's financial standing to better address future scenarios and take advantage of the business opportunities that might arise. The proceeds obtained from the placement of the mentioned bonds will be allocated to paying off the Company's short-term liabilities. Masisa is a leading furniture and interior architecture board production and marketing company in Latin America. It owns forest assets in most of the region, thereby guaranteeing the raw material for its board business.