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.
THIS WEBSITE (AND THE INFORMATION CONTAINED HEREIN) DOES NOT CONTAIN OR CONSTITUTE AN OFFER OF SECURITIES FOR SALE, OR SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR SECURITIES, IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER COUNTRIES WHERE SUCH AN OFFER OR SOLICITATION WOULD REQUIRE THE APPROVAL OF LOCAL AUTHORITIES OR OTHERWISE BE UNLAWFUL (THE “OTHER COUNTRIES”). ANY PUBLIC OFFERING WILL BE CONDUCTED IN ITALY PURSUANT TO A PROSPECTUS, DULY AUTHORIZED BY CONSOB IN ACCORDANCE WITH APPLICABLE REGULATIONS. THE SECURITIES REFERRED TO HEREIN HAVE NOT BEEN REGISTERED AND WILL NOT BE REGISTERED IN THE UNITED STATES UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR PURSUANT TO THE CORRESPONDING REGULATIONS IN FORCE IN THE OTHER COUNTRIES AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO “U. S. PERSONS” UNLESS SUCH SECURITIES ARE REGISTERED UNDER THE SECURITIES ACT, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IS AVAILABLE. THE COMPANY DOES NOT INTEND TO REGISTER ANY PORTION OF ANY OFFERING IN THE UNITED STATES.
ANY OFFER OF SECURITIES IN ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (“EEA”) WHICH HAS IMPLEMENTED THE PROSPECTUS DIRECTIVE (EACH, A “RELEVANT MEMBER STATE”), WILL BE MADE ON THE BASIS OF A PROSPECTUS APPROVED BY THE COMPETENT AUTHORITY AND PUBLISHED IN ACCORDANCE WITH THE PROSPECTUS DIRECTIVE (THE “PERMITTED PUBLIC OFFER”) AND/OR PURSUANT TO AN EXEMPTION UNDER THE PROSPECTUS DIRECTIVE FROM THE REQUIREMENT TO PUBLISH A PROSPECTUS FOR OFFERS OF SECURITIES.
ACCORDINGLY, ANY PERSON MAKING OR INTENDING TO MAKE ANY OFFER OF SECURITIES IN A RELEVANT MEMBER STATE OTHER THAN THE PERMITTED PUBLIC OFFER, MAY ONLY DO SO IN CIRCUMSTANCES IN WHICH NO OBLIGATION ARISES FOR THE COMPANY OR ANY OF THE JOINT GLOBAL COORDINATORS OR ANY OF THE MANAGERS TO PUBLISH A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS DIRECTIVE OR SUPPLEMENT A PROSPECTUS PURSUANT TO ARTICLE 16 OF THE PROSPECTUS DIRECTIVE, IN EACH CASE, IN RELATION TO SUCH OFFER.
THE EXPRESSION “PROSPECTUS DIRECTIVE” MEANS DIRECTIVE 2003/71/EC (THIS DIRECTIVE AND AMENDMENTS THERETO, INCLUDING DIRECTIVE 2010/73/EC, TO THE EXTENT IMPLEMENTED IN THE RELEVANT MEMBER STATE, TOGETHER WITH ANY IMPLEMENTING MEASURES IN ANY MEMBER STATE). INVESTORS SHOULD NOT SUBSCRIBE FOR ANY SECURITIES REFERRED TO IN THIS DOCUMENT EXCEPT ON THE BASIS OF INFORMATION CONTAINED IN ANY PROSPECTUS.
Confirmation that the certifying party understands and accepts the above disclaimer.
The information contained on this section is for information purposes only and are not intended for or open to access by anyone who is in or who is resident in the USA, Australia, Canada, Japan or in any of the Other Countries. I declare that I am not resident or located in United States, Australia, Canada or Japan or any Other Countries and I am not a “U.S. Person” (according to Regulation S of the Securities Act). I have read and understood the above disclaimer. I understand that it may affect my rights. I agree to be bound by its terms.
QUESTO SITO WEB (E LE INFORMAZIONI IVI CONTENUTE) NON CONTIENE NÉ COSTITUISCE UN'OFFERTA DI VENDITA DI STRUMENTI FINANZIARI O UNA SOLLECITAZIONE DI OFFERTA DI ACQUISTO O SOTTOSCRIZIONE DI STRUMENTI FINANZIARI NEGLI STATI UNITI, IN AUSTRALIA, CANADA O GIAPPONE O IN QUALSIASI ALTRO PAESE NEL QUALE L’OFFERTA O SOLLECITAZIONE DEGLI STRUMENTI FINANZIARI SAREBBERO SOGGETTE ALL’AUTORIZZAZIONE DA PARTE DI AUTORITÀ LOCALI O COMUNQUE VIETATE AI SENSI DI LEGGE (GLI “ALTRI PAESI”). QUALUNQUE OFFERTA PUBBLICA SARÀ REALIZZATA IN ITALIA SULLA BASE DI UN PROSPETTO, APPROVATO DA CONSOB IN CONFORMITÀ ALLA REGOLAMENTAZIONE APPLICABILE. GLI STRUMENTI FINANZIARI IVI INDICATI NON SONO STATI E NON SARANNO REGISTRATI AI SENSI DELLO U.S. SECURITIES ACT DEL 1933, COME SUCCESSIVAMENTE MODIFICATO (IL “SECURITIES ACT”), O AI SENSI DELLE CORRISPONDENTI NORMATIVE VIGENTI NEGLI “ALTRI PAESI” E NON POSSONO ESSERE OFFERTI O VENDUTI NEGLI STATI UNITI O A “U.S. PERSONS” SALVO CHE I TITOLI SIANO REGISTRATI AI SENSI DEL SECURITIES ACT O IN PRESENZA DI UN'ESENZIONE DALLA REGISTRAZIONE APPLICABILE AI SENSI DEL SECURITIES ACT. NON SI INTENDE EFFETTUARE ALCUNA OFFERTA AL PUBBLICO DI TALI STRUMENTI FINANZIARI NEGLI STATI UNITI.
QUALSIASI OFFERTA DI STRUMENTI FINANZIARI IN QUALSIASI STATO MEMBRO DELLO SPAZIO ECONOMICO EUROPEO (“SEE”) CHE ABBIA RECEPITO LA DIRETTIVA PROSPETTI (CIASCUNO, UN “STATO MEMBRO RILEVANTE”) SARÀ EFFETTUATA SULLA BASE DI UN PROSPETTO APPROVATO DALL’AUTORITÀ COMPETENTE E PUBBLICATO IN CONFORMITÀ A QUANTO PREVISTO DALLA DIRETTIVA PROSPETTI (L’“OFFERTA PUBBLICA CONSENTITA”) E/O AI SENSI DI UN’ESENZIONE DAL REQUISITO DI PUBBLICAZIONE DI UN PROSPETTO PER OFFERTE DI STRUMENTI FINANZIARI PREVISTA DALLA DIRETTIVA PROSPETTI.
CONSEGUENTEMENTE, CHIUNQUE EFFETTUI O INTENDA EFFETTUARE UN’OFFERTA DI STRUMENTI FINANZIARI IN UNO STATO MEMBRO RILEVANTE DIVERSA DALL’“OFFERTA PUBBLICA CONSENTITA” PUÒ FARLO ESCLUSIVAMENTE LADDOVE NON SIA PREVISTO ALCUN OBBLIGO PER LA SOCIETÀ O UNO DEI JOINT GLOBAL COORDINATOR O DEI MANAGER DI PUBBLICARE RISPETTIVAMENTE UN PROSPETTO AI SENSI DELL'ARTICOLO 3 DELLA DIRETTIVA PROSPETTO O INTEGRARE UN PROSPETTO AI SENSI DELL'ARTICOLO 16 DELLA DIRETTIVA PROSPETTO, IN RELAZIONE A TALE OFFERTA.
L'ESPRESSIONE “DIRETTIVA PROSPETTI” INDICA LA DIRETTIVA 2003/71/CE (TALE DIRETTIVA E LE RELATIVE MODIFICHE, NONCHÉ LA DIRETTIVA 2010/73/UE, NELLA MISURA IN CUI SIA RECEPITA NELLO STATO MEMBRO RILEVANTE, UNITAMENTE A QUALSIASI MISURA DI ATTUAZIONE NEL RELATIVO STATO MEMBRO). GLI INVESTITORI NON DOVREBBERO SOTTOSCRIVERE ALCUNO STRUMENTO FINANZIARIO SE NON SULLA BASE DELLE INFORMAZIONI CONTENUTE NEL RELATIVO PROSPETTO.
Conferma che il certificante comprende e accetta il disclaimer sopraesposto.
I documenti contenuti nella presente sezione hanno esclusivamente finalità informative e non sono diretti o destinati all'accesso da parte di persone che si trovano o sono residenti negli Stati Uniti, in Australia, Canada o Giappone o uno degli Altri Paesi. Dichiaro di non essere soggetto residente o trovarmi negli Stati Uniti, in Australia, Canada o Giappone o uno degli Altri Paesi e di non essere una “US person” (ai sensi della Regulation S del Securities Act). Ho letto e compreso il disclaimer sopraesposto. Comprendo che può condizionare i miei diritti. Accetto di rispettarne i vincoli.
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Investors
Overview
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.
The geographical ownership structure confirms the predominant and essentially stable presence of the United States, with 30% of capital held by institutional investors, followed by the United Kingdom with 27%, up from about 25% in the prior year. The weightings of France and Northern Europe, where investor awareness about ESG matters is generally greater, are also continuing to increase.
At the end of 2021, France and Northern Europe contribute about 12% and 8% of all institutional investors, compared with 11% and 7% respectively in the prior year. In the meantime, the weighting of Italy has eased from 8% to 7%. The combined weighting of the other European countries is about 12%, down from 14% in the prior year.
Among the main countries, Germany and Ireland have increased their weightings, while those of the Netherlands, Spain and Switzerland have decreased. There has also been a slight decline in the proportion of Asian investors (principally Japan and Hong Kong).
Overall, about 72% of capital is held by investment funds with Value, Growth or GARP (Growth at Reasonable Price) strategies. They anticipate the creation of value over the medium-long term and consider the current share price to be undervalued given the prospects offered by the fundamentals of the Company.
With respect to 2020, there has been a slight increase in the number of shareholders adopting an Index investment (or passive) strategy, based on the main stock indices, while the weighting of the Hedge Fund component - with a shorter time horizon - has increased slightly to 5% from 4% in the prior year.
ESG investors have established an important and growing presence within the ownership structure of Prysmian, focusing their investment strategies on various Environmental, Social and Governance matters. Indeed, their weighting within the Prysmian ownership structure has increased substantially over the past 3 years, rising from about 13% in 2019 to 35% in 2020 and over 44% now.
According to the latest Nasdaq data, this percentage is well above average for both the industrial sector and the Italian market, which is around 30% of all institutional investors. In absolute terms, Prysmian currently has 185 ESG investors, up strongly from 138 in the prior year and 55 just three years ago.