financial statements 2012

28. Share premium

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The changes in the balances under this heading in the accompanying consolidated balance sheets are due to the common stock increases carried out in 2012 and 2011 (see Note 27), as set out below:

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(millones de euros)

Share premium
As of December 31, 2010 17,104
Convertible bonds conversion - July 2011 1,866
As of December 31, 2011 18,970
Convertible bonds conversion - April 2012 878
Convertible bonds conversion - July 2012 1,120
As of December 31, 2012 20,968

The amended Spanish Corporation Act expressly permits the use of the share premium balance to increase capital and establishes no specific restrictions as to its use.