Kapitalerhöhungen

Kapitalerhöhungen, often translated as capital increases, are a fundamental process for companies seeking to raise additional equity capital. This typically involves issuing new shares to existing shareholders or new investors. The primary motivations for a capital increase are to finance expansion, acquire other companies, reduce debt, or strengthen the company's financial position. There are generally two main types: a cash capital increase, where investors contribute new funds, and a capital increase from company funds, often through the capitalization of reserves.

In a cash capital increase, new shares are offered at a specific issue price. Existing shareholders may have pre-emptive rights, allowing them to purchase a proportion of the new shares to maintain their ownership percentage. If new investors are brought in, the ownership structure of the company will change. A capital increase from company funds, also known as a stock split or bonus issue, involves converting retained earnings or other reserves into share capital. This does not inject new money into the company but increases the number of outstanding shares, often lowering the per-share price and potentially increasing liquidity. The process requires a resolution by the company's shareholders and often involves regulatory approvals depending on the company's legal structure and jurisdiction. The impact of a capital increase can affect share price, earnings per share, and the overall market capitalization of the company.