RIO DE JANEIRO -(Dow Jones)- Brazil's biggest brewer, Companhia de Bebidas das Americas (ABV, AMBV4.BR), or Ambev, said Friday it will increase its capital by up to 432 million Brazilian reais ($229 million) via a private share issue.

Ambev will issue up to 4.264 million new ordinary shares and 3.328 million new preferred shares, the company said in a statement.

The issue price will be BRL51.56 per ordinary share and BRL63.82 per preferred share, in line with the closing Bovespa price on Jan. 31, the company said.

Ambev announced on April 16 it has acquired an indirect interest in Dominican brewer Cerveceria Nacional Dominicana SA, or CND, for at least $1 billion.

-By Diana Kinch, Dow Jones Newswires; 55 21 2586 6086; diana.kinch@dowjones.com