Ownership structure

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 48% of the company’s share capital.

Share Capital

The share capital of the Company at 30 June 2023 totalled 1,003,227,568.76 euros consisting of 810,745,220 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%.

Main shareholders as of 30 June 2023

  CDP Reti S.p.A..(*) (**)   26.0%
  Snam S.p.A.   13.5%
  Lazard LLC   9.8%
  Romano Minozzi
  4.2%
  Crédit Agricole S.A   3.9%
  Blackrock Inc.    3.7%
  Bank of Italy   1.4%
  Others   37.5%

(*) 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   79.6 mln 
  Romano Minozzi
  34,206,531
  BlackRock, Inc.   31.6 mln
  Crédit Agricole S.A.
  30.1 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%

Information on shareholders and investors

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