FCC’s management announced on the evening of 17 December that a capital increase of €709.5m was approved by the Board of Directors. In our opinion, the capital increase is good news. The price seems fair for current shareholders (the previous capital increase was done at a 50% discount at €7.5 – please see 13/11/2015 Latest – whereas this one is done at a premium). A €709.5m capital increase at €6 per share means that 118.5m shares have been raised, namel
