Shareholding
Data at 31 December 2018
At December 31, 2018 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.
Structure of the shareholding
25%
Municipality of Brescia
25%
Municipality of Milan
0.8%
A2A S.p.A. (Treasury Shares)
49.2%
Other Shareholders/Market
No relevant variations on major shareholders have occurred since the end of 2018
Shareholders breakdown by ownership clusters
| Clusters | Number of shareholders | % | Number of ordinary shares | % |
|---|---|---|---|---|
| 1 - 500 | 12,909 | 16% | 4,910,131 | 0.2% |
| 501 - 1,000 | 18,480 | 22% | 17,796,315 | 0.6% |
| 1,001 - 5,000 | 36,217 | 44% | 99,087,812 | 2.8% |
| 5,001 - 10,000 | 7,728 | 9% | 60,596,989 | 1.9% |
| 10,001 - 50,000 | 5,773 | 7% | 125,494,057 | 4.0% |
| 50,001 - 100,000 | 628 | 1% | 46,432,523 | 1.5% |
| 100,001 - 500,000 | 516 | 1% | 111,462,377 | 3.6% |
| 500,001 - 1,000,000 | 95 | 0% | 67,165,115 | 2.1% |
| 1,000,000 - Massimo | 158 | 0% | 2,599,959,958 | 80.0% |
| Totale | 82,504 | 100% | 3.132.905.277 | 100% |
A2A shareholders are around 72,000, split into institutional and retail investors.
Institutional investors represent around 37.1% of the share capital (36.2% in 2017). 25.2% of the free float owned by institutional investors is held by US investors, 18.2% by UK investors, 11.3% by French investors and 11.3% by Italian investors. Other relevant countries are Luxembourg (10.2%) and Germany (6.6%).
The retail investors are approximately 71,000 and own 10.3% percent of the share capital (in 2017 they represented the 11.1%). 99.7% of the retail investors live in Italy and in particular 59.3% of them are in Lombardy, the region where historically A2A has been more active. Investors from the provinces of Milan and Brescia own respectively 27.1% and 13.7% of the total retail shareholding.
The above-mentioned data are based on the shareholders register updated at 23 May 2018 (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