Santander to make £6bn from share sale
Santander's Spanish arm Banco Santander has announced plans to raise up to €7.5bn (£5.9bn) through the sale of around 1.3bn shares, each with a value of €0.50.
Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in C:\inetpub\wwwroot\2025.financialreporter.co.uk\htdocs\templates\front-end\partials\article_blockquote.php on line 2
These new shares are equivalent to around 10% of the bank's capital value.
The bank temporarily suspended trading of its shares yesterday on the Madrid stock market whilst it finalised plans.
In a statement yesterday, Banco Santander announced that the strengthening of its capital will allow the Bank to achieve growth plans, leading to speculation that it is planning a large acquisition, rumoured to be Italian bank Banco Monto dei Paschi di Siena.
Santander easily passed European stress tests in October, and stated that raised capital would help it to reach a stressed ratio of 10% by the end of the year.
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
Lloyds
Lloyds Banking Group launches £5,000 deposit mortgage
Mortgage Rates
Barclays relaunches sub-4% mortgage rate
FCA
FCA bans and fines director £755,000 for advice and insurance failures
Bank Of England
Bank of England holds interest rates at 3.75% in 8-1 vote
Mortgages
Mortgage affordability at tightest level since 2008: UK Finance
Nationwide
Nationwide cuts mortgage rates by up to 0.36%
