Best Equity Capital Markets Lawyers in Spain

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LBO Legal
Seville, Spain

Founded in 2012
10 people in their team
Spanish
English
We are a law firm that was born in Seville in 2012 under the brand LBO Abogados and whose bases are the resolutive capacity, professional honesty and full availability to our portfolio of clients to whom we offer legal, tax, labor and personal data protection services.If there is one thing we are...
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ASOBAN ABOGADOS
Murcia, Spain

Founded in 2007
50 people in their team
Spanish
English
At ASOBAN ABOGADOS we are experts in mortgage foreclosures , Second Chance law and ICO loans, providing effective solutions to people with any type of debt throughout Spain.We are a pioneering firm in the Second Chance Law with which, thanks to our advice, thousands of people in Spain have freed...
Vargas Vilardosa Abogados
Zaragoza, Spain

Founded in 2000
50 people in their team
Spanish
English
Lawyers specialized in Intellectual and Industrial PropertyVargas Vilardosa Lawyers was founded as a law firm that specialized in Intellectual and Industrial Property. As time has passed, we have responded to the evolving needs of our clients and so we have increased our services and scope of...

English
Duarte & Julián Abogadas is a multidisciplinary law firm based in Salamanca, Spain, offering specialized legal services to individuals, self-employed professionals, and businesses. The firm provides personalized legal solutions across various areas of law, including inheritance and succession,...
Almar Lawyers
Ibiza Town, Spain

English
Almar Lawyers, based in Ibiza's central square, Vara de Rey, is a distinguished law firm founded by Ibizan natives Alejandro Bonet Templeton and Nadine Schröder. With extensive experience in major law firms across the Balearic Islands and mainland Spain, they established Almar Lawyers to...
Legal Solutions Latam Panama

Legal Solutions Latam Panama

1 hour Free Consultation
Madrid, Spain

Founded in 2019
12 people in their team
Spanish
English
German
Nuestra plataforma te hará más fácil y seguro acceder a servicios legales con confianza y garantías. Lo legal nunca fue tan sencillo. Abogados idóneos a tu disposición. Respuesta inmediata.Constituir empresa offshore en PanamáConstituir empresa operativa en PanamáAbrir cuenta bancaria...
MV Abogados
Zaragoza, Spain

Founded in 2000
50 people in their team
Spanish
English
THE OFFICEOur Law Firm is located in Zaragoza, but this does not limit us to taking on matters in any city in Spain. We work with great professionalism and always in accordance with our principles and values.The practice areas of the firm are negotiation and extrajudicial claims, Civil Law,...
Peralta Rojas Lawyers
Seville, Spain

Founded in 2017
50 people in their team
Spanish
English
The commitment to defending our clients’ interests and the excellence in our work are the hallmark of our law firm. We strive for our clients’ satisfaction and work hard to achieve it.From our office located in Plaza de la Magdalena, in the heart of Seville, we provide legal advice to...
Rodenas Abogados
Madrid, Spain

Founded in 2000
50 people in their team
Spanish
English
Ródenas Abogados & AssociatesPablo Ródenas, from an early age, felt a deep curiosity and interest in the world of law, influenced by his long family career in the legal sector.Graduate in Law and Financial Markets from the IEB University (Institute of Stock Market Studies) with several...
Necker Abogados

Necker Abogados

15 minutes Free Consultation
Madrid, Spain

Founded in 2022
10 people in their team
Spanish
English
Necker Abogados is a Spanish law firm with a strong track record in tax, corporate, restructuring and real estate advisory, as well as litigation services, all from an international perspective.We assist our clients with matters in Spain, taking into account international issues that may be...
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About Equity Capital Markets Law in Spain

Equity Capital Markets (ECM) in Spain refer to the legal and financial frameworks that govern the raising of capital by companies through the issuance and trading of shares and other equity instruments on public markets. Spain’s main equity market is the Bolsa de Madrid, along with alternative markets such as BME Growth, which cater to smaller or growing companies. ECM activities include Initial Public Offerings (IPOs), rights issues, secondary offerings, and private placements, all regulated to protect investors and maintain market integrity. The Spanish legal framework is designed to ensure transparency, fairness, and efficiency within the capital markets.

Why You May Need a Lawyer

Engaging in equity capital markets operations involves navigating complex legal, regulatory, and financial requirements. People and companies may seek legal assistance in situations such as:

  • Preparing for an IPO or secondary offering
  • Complying with ongoing disclosure and transparency obligations
  • Drafting and reviewing prospectuses and offering materials
  • Structuring rights issues or private placements
  • Ensuring regulatory compliance with the Comisión Nacional del Mercado de Valores (CNMV)
  • Managing cross-border transactions or listings
  • Handling disputes, investigations, or enforcement actions by regulators
  • Providing strategic advice on market entry or capital raising methods

A specialized lawyer can help avoid costly mistakes, ensure compliance, and streamline the capital raising process.

Local Laws Overview

Equity capital markets in Spain are primarily regulated by a combination of European Union regulations and Spanish national laws. The most important aspects include:

  • The Spanish Securities Market Law (Ley del Mercado de Valores) - Establishes the legal structure for securities markets. It provides rules on public offers, listings, market abuse, and transparency.
  • Comisión Nacional del Mercado de Valores (CNMV) - The main regulatory authority overseeing Spanish capital markets. They supervise IPOs, ongoing disclosure, and enforcement actions.
  • EU Prospectus Regulation - Sets harmonized rules across the EU for prospectuses published when securities are offered to the public or admitted to trading.
  • Market Abuse Regulation (MAR) - EU-wide rules to prevent insider trading and market manipulation.
  • Listing Rules and Regulations - Specific requirements set by Spanish markets such as Bolsa de Madrid or BME Growth, including eligibility, disclosure, and reporting obligations.
  • Corporate Governance Codes - Non-binding guidelines that encourage transparent and responsible management practices for listed companies.

Frequently Asked Questions

What is an Initial Public Offering (IPO) in Spain?

An IPO is when a company offers its shares to the public for the first time on a regulated market, such as the Bolsa de Madrid. This process is regulated to ensure transparency, investor protection, and compliance with both EU and Spanish laws.

What approvals are required before a company can list on a Spanish exchange?

A company must prepare a prospectus, which needs to be reviewed and approved by the CNMV. The company must also comply with the requirements of the chosen exchange, including financial reporting and corporate governance rules.

Who regulates equity capital markets in Spain?

The main regulator is the Comisión Nacional del Mercado de Valores (CNMV), which oversees securities markets, enforces compliance, and protects investors.

Can foreign companies list on Spanish markets?

Yes, foreign companies can list on Spanish exchanges if they meet the relevant regulatory and disclosure requirements. They may need to prepare specific documentation or provide translations to comply with Spanish law.

What are the ongoing obligations for listed companies?

Listed companies must regularly disclose financial information, material events, and comply with rules around market abuse and insider dealing. They are supervised by the CNMV and must follow both EU and national transparency rules.

Is a prospectus always required for the public offer of shares?

Generally, a prospectus is required when offering shares to the public or seeking admission to regulated markets. Some exemptions exist, for example, for small offers below specific thresholds.

What are the penalties for market abuse or non-compliance?

Penalties can include fines, suspension of trading, or criminal charges, depending on the severity of the violation. The CNMV actively monitors and enforces compliance.

What is BME Growth and how does it differ from Bolsa de Madrid?

BME Growth is a market segment designed for smaller or growing companies, with more flexible admission criteria and lighter disclosure obligations compared to the main regulated markets like Bolsa de Madrid.

How does Spanish law affect cross-border equity offerings?

Spanish law must be considered alongside EU regulations and the rules of any other involved jurisdictions. Legal advice is essential to navigate requirements across multiple legal systems.

When should a lawyer be consulted during an ECM transaction?

A lawyer should be consulted from the early planning stages of an ECM transaction to help structure the deal, draft documents, ensure regulatory compliance, and manage any legal risks or disputes.

Additional Resources

Several organizations and bodies offer information and assistance regarding equity capital markets in Spain. Useful resources include:

  • Comisión Nacional del Mercado de Valores (CNMV) - The official market regulator provides guidance, regulatory texts, and public registers of listed companies.
  • Bolsas y Mercados Españoles (BME) - The operator of Spanish stock exchanges, offering market updates, admission criteria, and regulatory information.
  • Spanish Ministry of Economy and Digital Transformation - Publishes legal frameworks and policies affecting the financial sector.
  • European Securities and Markets Authority (ESMA) - Offers EU-level guidance and harmonized regulations for capital markets.
  • Professional law associations - The Ilustre Colegio de Abogados de Madrid provides directories of specialized legal professionals.

Next Steps

If you are considering entering the equity capital markets in Spain, or require legal assistance with a current ECM matter, follow these steps:

  • Assess your specific needs, such as IPO preparation, compliance, or dispute resolution.
  • Gather relevant documentation, including financial statements and business plans.
  • Research and contact a lawyer specialized in equity capital markets law in Spain.
  • Schedule a consultation to discuss your situation and clarify the potential legal services required.
  • Follow legal advice carefully and ensure ongoing compliance with all disclosure and regulatory obligations.

Taking early and informed legal action can help you navigate the complexities of the Spanish equity capital markets safely and effectively.

Lawzana helps you find the best lawyers and law firms in Spain through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Equity Capital Markets, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Spain - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.