Shareholder Structure and Trading Volume
A study conducted in December 2016 showed a further stabilisation of the shareholder structure of HeidelbergCement in comparison with the last study from November 2015. As in previous years, we have worked to further improve our relations with investors. We were pleased that we could increase the proportion of institutional investors from the USA and Italy. In contrast, the share of other European investors declined. The proportion of hedge funds in 2016 was 2%.
In October 2016, investors from Germany formed the largest investor group at 31%, followed by investors from North America at 29%, continental Europe excluding Germany at 14%, and the United Kingdom at 9%.
As at 31 December 2016, the free float amounted to 74.48%. According to notifications available to us, Ludwig Merckle holds 25.52% of the voting rights in the company via Vemos 2 Holding GmbH, a company under his control.
On average, around 607,000 HeidelbergCement shares were traded per day in Xetra trading on the Frankfurt Stock Exchange in 2016. In the Equity Indices Ranking published by Deutsche Börse, our share was in place 22 at the end of 2016 for the market capitalisation criterion and in place 25 for order book turnover.