BMW Converts Preferred Shares to Ordinary, Simplifying Capital Structure
BMW AG has converted all its non-voting preferred shares into voting ordinary shares, effective today after shareholder approval and regulatory registration.
54,675,505
€616 million
19%
What Happened
BMW AG has completed the conversion of all its non-voting preferred shares into voting ordinary shares at a 1:1 ratio. The change was approved by a large majority at the Annual General Meeting on May 13, 2026, and became effective upon entry in the commercial register on June 30, 2026. The conversion is automatic for shareholders, with no action required, and will be processed between July 1 and July 3, 2026. As a result, BMW's share capital now consists entirely of ordinary shares.
Annual General Meeting approves conversion of preferred shares to ordinary shares.
Amendment to Articles of Association enters commercial register; trading of preferred shares ends.
Automatic conversion of preferred shares to ordinary shares takes place.
- 91% ordinary shares, 9% preferred shares
- 100% ordinary shares
Why this matters
This move simplifies BMW's capital structure, aligns with the 'one share, one vote' governance principle, and increases the free float of ordinary shares by 19%.
Terms in This Story
- preferred shares
- A type of stock that typically does not carry voting rights but may offer fixed dividends.
- ordinary shares
- Common stock that gives shareholders voting rights and dividends based on company profits.
- free float
- The number of shares available for trading by the public, excluding locked-in shares held by insiders.
Summarised from the linked release; details can be imperfect — always verify against the original source.