Santander rights issue a success as Spanish recovery rolls onward

By Aidan Gregory
26 Jul 2017

Santander’s €7bn rights issue finished 8.2 times covered, according to a filing with the CNMV, the Spanish regulator.

During the subscription period for the one-for-10 rights issue, Santander received subscriptions for 1.4bn new shares, or 99.26% of the total deal size, from holders exercising their rights.

In Spanish rights issues, investors can ask for more shares than they have rights for, so demand for the tiny ...

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