Justificación PRÁCTICA de la prima de emisión en las ampliaciones de capital en las Sociedades Anónimas españolas.

The article explains the need for the existence of a premium on capital increases in Spanish Joint Stock Companies. According to Spanish legislation, shares issued in capital increases can have an issuance value equal to the nominal value (at par) or higher than this (above par). It is prohibited to issue shares below their nominal value. The premium is used to equalize the rights of new shareholders with the old ones and compensate for the sacrifice of the latter by keeping reserves in the company. [Extracted from the article]