The equity capital markets practice at Cuatrecasas offers a robust and well-rounded service, with proven capability in handling IPOs on the Spanish Stock Exchange as well as SME listings on BME Growth. The team’s expertise also extends to public M&A transactions, delistings, and share capital increases. The practice is jointly led by José Ramón Berecibar from Bilbao and Juan Aguayo from Madrid, the latter widely regarded as a go-to adviser for large-scale IPOs. Roger Freixes brings extensive experience advising listed companies, while José Luis Rodríguez focuses on transactional advice for listed companies across both the Spanish Stock Exchange and BME Growth. Gerard Correig is also noted for his expertise in BME Growth deals and corporate governance issues.

Noted for its ‘high level of theoretical and practical knowledge of Spanish and European capital markets regulations’, Garrigues‘ equity capital markets practice advises a diverse roster of high-profile corporates and financial institutions on consequential deals. The team continues to guide clients through the IPO process on both the Spanish Stock Exchange and the BME Growth. Mónica Martín de Vidales leads the practice alongside Álvaro López-Jorrín, whose areas of expertise include both IPOs and regulatory advice to listed companies. Gonzálo García-Fuertes stands out for his strong track record in major IPOs and listings, while Leticia Comin excels in public M&A and ECM deals, drawing on her previous experience at the CNVM. Carlos Lozano is also experienced in public M&A, takeover bids and large-ticket IPOs.

The ECM practice at Linklaters delivers a strong and cohesive offering, regularly acting for a range of high-profile banks underwriting major IPOs on the Spanish Stock Exchange and Euronext, as well as bookbuilt offerings on the IBEX-35. Practice co-lead Jorge Alegre possesses extensive experience across the full spectrum of equity offerings, including IPOs, block trades, and rights issues. Fellow co-heads Federico Briano (noted for his English law capabilities) and Pablo Medina maintain practices that span both debt and equity offerings. Juan María Lamo, a key contact for major banks, is skilled in securitisations, equity and equity-linked securities and bond issues, while Pablo Ruiz de Assin continues to advise clients on both the regulatory and transactional aspects of ECM mandates.

Praised for its ‘understanding of the regulatory and business environment’, the ECM practice at Uría Menéndez regularly advises both financial institutions and companies throughout the IPO process, across regulated markets and multilateral trading facilities. The practice is also adept in rights issues, accelerated bookbuilt offerings, share offerings, and public M&A. Javier Redonet, who has played a prominent role in numerous major IPOs, oversees the capital markets group. Gabriel Núñez acts for both domestic and international companies on public offerings and public M&A. Listings, delistings, and block trades are central to Alfonso Ventoso’s practice, while Enrique Nieto is particularly noted for his experience in REITs-related matters.

Baker McKenzie advises on a broad range of ECM matters, including IPOs, public M&A, and delistings, acting for a diverse roster of leading international banks and issuers. The practice is led by Fernando Torrente, who has an established practice specialising in IPOs and primary and secondary equity offerings. Carlos Martín regularly advises on bookbuilt offerings, rights issues, and capital raisings, while Enrique Carretero brings together expertise in public M&A, takeovers and ECM deals.

Regularly turned to by leading Spanish companies and both domestic and international financial institutions, Clifford Chance houses a team of lawyers well-versed in advising on the full spectrum of equity capital markets products, spanning IPOs, block trades, and accelerated offerings. The practice is jointly led by Eduardo García, whose client base includes banks, investment funds, and multilaterals, and Antonio Henríquez, who has advised extensively on capital raisings and public offerings. Javier García De Enterría is experienced in public takeover bids and rights issues.

Demonstrating extensive experience working with companies from the pharmaceutical, real estate, and infrastructure sectors, the capital markets team at Gómez-Acebo & Pombo is geared to handle a broad range of ECM mandates, spanning BME Growth listings and capital increases. The group is co-led by Guillermo Guerra, who has an established practice advising IBEX-35 listed companies on corporate governance matters, and public M&A specialist Augusto Piñel. Jacobo Palanca is another name to note for corporate governance issues involving listed companies, takeover bids and equity offerings.

The equity capital markets team at Hogan Lovells Spain supports clients in a wide range of mandates spanning IPOs, bookbuild offerings, and capital increases. The team is under the joint leadership of Iñigo Berricano, a seasoned ECM practitioner who is regularly turned to by leading financial institutions, listed companies, and sponsors seeking assistance with large-cap transactions, and structured finance specialist José Luis Vázquez. Álvaro Albors, who joined from Linklaters in January 2025, is also noted for his experience in advising issuers and underwriters on IPOs, accelerated bookbuild offers, rights issues and block trades.

With extensive experience handling recapitalisations, delistings, and BME Growth listings, Ramón y Cajal Abogados fields an ECM team that is regularly sought after by listed companies and financial institutions. The practice is jointly steered by Carlos Lao, who has an established practice advising both issuers and underwriters alike, and Lucía García, who is regularly called upon to advise on IPOs and capital increases. Also noted is Pablo Tejerizo Solanilla, described by a client as 'an outstanding professional with a deep knowledge of Spain's regulatory system'.

Pérez-Llorca is well positioned to advise a broad range of clients, including issuers, investors, and underwriters, on ECM work, including IPOs, public M&A transactions, and regulatory issues involving listed companies. Javier Gómez, the firm's resident partner in New York, is experienced in listings, public offers and capital increases for listed companies. Carlos Mercadal is another name to note for IPOs, capital increases and corporate governance of listed companies. Former practice head Teresa Méndez is no longer at the firm.