Existing user? Sign in
Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
Or refine your search by selecting a city:
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.
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:
A specialized lawyer can help avoid costly mistakes, ensure compliance, and streamline the capital raising process.
Equity capital markets in Spain are primarily regulated by a combination of European Union regulations and Spanish national laws. The most important aspects include:
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.
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.
The main regulator is the Comisión Nacional del Mercado de Valores (CNMV), which oversees securities markets, enforces compliance, and protects investors.
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.
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.
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.
Penalties can include fines, suspension of trading, or criminal charges, depending on the severity of the violation. The CNMV actively monitors and enforces compliance.
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.
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.
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.
Several organizations and bodies offer information and assistance regarding equity capital markets in Spain. Useful resources include:
If you are considering entering the equity capital markets in Spain, or require legal assistance with a current ECM matter, follow these steps:
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.
Refine your search by selecting a city.
