Cassa Depositi e Prestiti is the primary shareholder of Italgas with an interest of 26%, whilst the Snam Group holds 13.5%. Institutional investors represent 47% of the company’s share capital.


Share capital

The share capital of the Company as at 31st December 2020 totalled €1,001,231,518.44 and consisted of 809,135,502 shares without par value. The Italgas stock is quoted in the FTSE MIB index of the Milan Stock Exchange. The proportion of floating capital is 60.5%.

Following the capital increase carried out by the Board of Directors on 10th March 2021 issuing no. 632,852 new shares to the beneficiaries of the 2018-2020 Co-investment Plan, the share capital amounts to 1,002,016,254.92 euros consisting of 809,768,354 shares.


Main shareholders as of 31 December 2020

CDP Reti S.p.A..(*) (**)


Snam S.p.A.


Lazard Asset Management Llc


Romano Minozzi


Blackrock Inc.


Sun Life Financial, Inc.


Other shareholders



(*) On 20 October 2016, a shareholders’ agreement was concluded between Snam, CDP Reti and CDP Gas, effective from the date of the demerger, in relation to Italgas S.p.A. Effective as of 1 May 2017, CDP Gas was merged into CDP. Subsequently, on 19 May 2017, CDP sold to CDP Reti, inter alia, the equity investment held in Italgas S.p.A., equal to 0.969% of the share capital of Italgas S.p.A. 

(**) 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.


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 2020:

  • CDP Reti S.p.A.: 210,738,424 number of shares held
  • Snam S.p.A. : 109,233,293 number of shares held
  • Lazard Asset Management : 70.634.336 number of shares held
  • Romano Minozzi: 34,706,531 number of shares held
  • Blackrock Inc. : 38.284.439 number of shares held
  • Sun Life Financial : 27.644.982 number of shares held

Socially Responsible Investors

As of 31 December 2020, Socially Responsible Investors (SRI) represent approximately 14% (1) of the total Italgas share capital and around 30% of the shares held by institutional investors.

(1) As at December 2019 the share was 5%

Ownership structure by region

As at 31 December 2020


Ownership structure by investor type

As at 31 December 2020


Geographic breakdown of institutional investors

As at 31 December 2020


Institutional investors by type

As at 31 December 2020


ultimo aggiornamento 27 April 2021 07:54 UTC