At December 31, 2017 A2A share capital amounts to 1,629 million euros, divided into 3,132,905,277 shares with a par value of 0.52 euro each. All shares are voting shares, although - as laid down in art. 9 of by-laws - no individual shareholder other than the Municipality of Milan and the Municipality of Brescia may hold an equity interest exceeding 5% of the share capital. Should such ceiling be exceeded, the voting right attached to the shares held in excess of 5% of the share capital may not be exercised. A2A holds 23,721,421 own shares equal to 0.76% of the share capital. On 27 April 2018 A2A Shareholders’ Meeting confirmed the purchase and disposal of treasury shares.

A2A shareholders are around 77,000, split into institutional and retail investors.

Institutional investors represent around 36.2% of the share capital (33.8% in 2016). 25.5% of the free float owned by institutional investors is held by US investors, 20.9% by UK investors, 14.0% by Luxembourg-based investors and 12.1% by Italian investors. Other relevant countries are France (7.2%) and Germany (4.1%).

The retail investors are approximately 75,000 and own 11.1% percent of the share capital (in 2016 they represented the 12.9%). 99.6% of the retail investors live in Italy and in particular 58.5% of them are in Lombardy, the region where historically A2A has been more active. Investors from the provinces of Milan and Brescia own respectively 26.8% and 13.3% of the total retail shareholding.
The above-mentioned data are based on the shareholders register updated at 24 May 2017 (dividend payment date)

For further information about the shareholders that hold, directly or indirectly, a significant stake in the company (i.e., more than 3% of the share capital), please visit the Consob website