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TOP CONTENT
Overview

Shareholders' Equity and Ownership Structure

At 31 December 2020, the share capital of Prysmian S.p.A. amounted to Euro 26,814,424.60, comprising 268,144,246 ordinary shares with a nominal value of Euro 0.1 each.

The Company's free float was equal to 100% of the outstanding shares and major shareholdings (in excess of 3%) accounted for approximately 26% of total share capital, meaning there were no majority or controlling interests. Prysmian is now one of Italy's few globally present industrial concerns to have achieved true Public Company status in recent years.

 

 

Source: Nasdaq, January 2021

 

(*)Mainly comprises shares held by non-institutional investors and by third-party holders of shares for trading purposes.

The geographical ownership structure shows a predominant presence of the United States, which represents 30% of the institutional investor total, followed by the United Kingdom, which accounted for 25%, both up on the previous year when these countries represented 28% and 21% of the total respectively. Italy accounted for around 8% of the capital held by institutional investors, down from 13% in 2019. France’s share was slightly down on the year before at about 11%. The proportion of Asian investors (primarily from Japan and Hong Kong) was essentially stable.

 
 

Source: Nasdaq, January 2021

Overall, around 73% of share capital is held by investment funds with Value, Growth or GARP (Growth at Reasonable Price) strategies, which therefore expect value creation from the stock in the medium to long term and consider the current valuation to be below the prospects offered by the company’s fundamentals. The proportion of investors adopting an Index or passive investment strategy, based on the principal stock indexes, was slightly down on 2019, while the Hedge Fund component, focused on a shorter time horizon, increased in weight to 4% of the total from 2% a year earlier.

 

Source: Nasdaq, January 2021

 

The presence of ESG investors, i.e. those who place Environmental, Social and Governance issues at the centre of their investment strategies, has also continued to grow. Over the last two years, the proportion of such investors in Prysmian’s shareholder base has increased substantially, from around 13% to 35% at present.

 

Source: Nasdaq, January 2021