Ownership structure
Cassa Depositi e Prestiti is the largest shareholder of Italgas with a shareholding of 26%, while the Snam group holds a share of 13.5%. Institutional investors account for 48% of the company’s capital.
Share Capital
The company’s registered capital at 31 March 2024 amounts to € 1,003,843,958.76, consisting of 811,242,309 shares without indication of nominal value. Italgas is listed on the FTSE MIB index of the Italian Stock Exchange. The floating capital is equal to 60.5%.
Main shareholders as of 31 December 2023
| CDP Reti S.p.A..(*) (**) | 26.0% |
| Snam S.p.A. | 13.5% |
| Lazard LLC | 9.7% |
| Romano Minozzi |
4.2% |
| Crédit Agricole S.A | 3.5% |
| Blackrock Inc. | 3.7% |
| Bank of Italy | 1.4% |
| Others | 38.0% |
(*) On 20 October 2016 a shareholders’ agreement was entered into by Snam, CDP Reti and CDP Gas, effective as of the demerger date, in relation to Italgas S.p.A. With effect as of 1 May 2017, CDP Gas was merged by incorporation into CDP. Subsequently, on 19 may 2017, CDP sold the equity investment held in Italgas S.p.A., amounting to 0.969 % of the share capital of the same, to CDP Reti, among others.
(**) CDP Reti is owned 59.1% by CDP, 35% by State Grid Europe Limited – SGEL, a subsidiary of State Grid Corporation of China, and 5.9% by some Italian institutional investors.
Share distribution
| Number of shares | Shareholders number | Shares number | % |
| 100,000,001 + | 2 | 319,971,717 | 39.5% |
| 10,000,001 – 100,000,000 | 10 | 274,192,223 | 33.8% |
| 1,000,001 – 10,000,000 |
40 | 125,451,114 | 15.5% |
| 100,001 – 1,000,000 | 71 | 24,341,302 | 3.0% |
| 10,001 – 100,001 | 737 | 16,175,885 | 2.0% |
| 1,001 – 10,001 | 9,596 | 29,540,395 | 3.6% |
| Below 1,000 | 33,638 | 12,567,505 | 1.6% |
Institutional shareholders’ data aggregated from Nasdaq, other data from shareholders’ register.
Shareholders with significant holdings
Relevant participations (owning more than 3% of Italgas shares, on the basis of data obtained from “Libro Soci”, the information available and communications received pursuant to Art. 120 of the Testo Unico della Finanza) as of 31 December 2021:
| Shareholders | Number of shares held |
|
CDP Reti S. p. A |
210,738,424 |
| Snam S.p.A | 109,233,293 |
| Lazard LLC | 79.0 mln |
| Romano Minozzi |
34,206,531 |
| BlackRock, Inc. | 30.2 mln |
| Crédit Agricole S.A. |
28.3 mln |
Socially responsible investors
-
19%
As of 30 June 2023, Socially Responsible Investors (SRI) represent approximately 19% (1) of the total Italgas share capital and around 39% of the shares held by institutional investors. (1) As of December 2022 the share was 20%