BMW AG Converts Preferred Shares to Ordinary Shares, Simplifying Capital Structure
BMW AG has completed the conversion of all its non-voting preferred shares into voting ordinary shares effective June 30, 2026, simplifying its capital structure.
- 54,675,505
- approximately 19%
- approximately €616 million
What Happened
BMW AG has converted approximately 54.7 million non-voting preferred shares into voting ordinary shares at a 1:1 ratio, effective June 30, 2026. The conversion, approved at the Annual General Meeting on May 13, 2026, simplifies the company's capital structure and aligns with the 'one share, one vote' governance principle. The custodial and stock exchange conversion will occur automatically between July 1 and July 3, 2026, without any action required by shareholders.
54,675,505shares
All non-voting preferred shares were converted into voting ordinary shares at a 1:1 ratio.
- 91% ordinary shares, 9% preferred shares
- 100% ordinary shares
BMW first listed on Munich and Berlin stock exchanges
Annual General Meeting approves conversion
Conversion effective; trading of preferred shares ends
Custodial and stock exchange conversion of preferred shares
Why this matters
This move simplifies BMW's share structure by eliminating non-voting shares, giving all shareholders voting rights and increasing the proportion of freely traded ordinary shares.
Terms in This Story
- Preferred shares
- Shares that typically offer fixed dividends but no voting rights.
- Ordinary shares
- Shares that give shareholders voting rights and dividends that may vary.
- Free float
- The portion of a company's shares that are available for trading by the general public.
Summarised from the linked release; details can be imperfect — always verify against the original source.