Capital Hikes Of Spanish Firms Reach A 5-Year High, Boosted By The Financial Sector

Capital hikes of Spanish companies record highCapital hikes of Spanish companies record high

The capital hikes carried out by Spanish companies totalled 4.114,7 billion euros in September, almost four times more than a year earlier and the highest figure in that month since 2012. This is according to data analysed by the Economic Studies Department of rating agency Axesor.

The accumulated figure in the January-September period was 34.741,4 billion euros, up 37.6% from a year earlier and the highest figure since 2014. The financial sector was the one which boosted capital hikes in September, accounting for 3.151,7 billion euros. This figures is 12 times that of a year earlier and the highest for this sector since May 2014.

The property sector also stood out, with capital hikes worth 305,33 million euros, up 14% from a year earlier. So the banking and property sectors accounted for 84% of all the money raised in Spain via capital hikes in the month of September.

In the first nine months of the year, the volume of capital increases in the financial and insurance segment grew 55.7% to 13.876,8 billion euros, the highest figure for this period since 2013. In the case of the property sector, the volume of capital hikes grew 68.2% year-on-year in January to September to 8.128,4 billion euros, the highest level for this sector in the last decade.

Breaking down by regions, Madrid accounted for eight out of every ten euros subscribed to capital hikes in September, with 3.436,9 billion euros (+596.3%). The majority of this corresponded to one operation, carried out by a company in the banking sector, for 2.736 billion euros, representing 65% of the total amount in capital hikes in September.

Madrid was also the leading region in the January-September period, registering 20.632,09 billion euros, the highest figure for this period since 2013.


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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.