These new shares are equivalent to around 10% of the bank's capital value.
The bank temporarily suspended trading of its shares yesterday on the Madrid stock market whilst it finalised plans.
In a statement yesterday, Banco Santander announced that the strengthening of its capital will allow the Bank to achieve growth plans, leading to speculation that it is planning a large acquisition, rumoured to be Italian bank Banco Monto dei Paschi di Siena.
Santander easily passed European stress tests in October, and stated that raised capital would help it to reach a stressed ratio of 10% by the end of the year.
