Espanyol to launch a share issue

The Primera Liga club is to release the share issue in an effort to raise the €9m needed to fund the construction of the new stadium. The step was approved unanimously by all 151 shareholders that were present in the club’s annual shareholders meeting, and will take place in three phases with the first selling €4m worth of shares, the second €3m and the third at €2m. The club, which reported record debts of €44.2 earlier this year, is in the fifth position in the Primera Liga in terms of revenue and lies behind only Real Madrid, Barcelona, Valencia and Atlético Madrid.

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