Shareholder Structure |
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Heidelberg's Free Float at 78 Percent
In June 2007 RWE AG reduced its stake in Heidelberger Druckmaschinen AG (Heidelberg) gradually from 15 percent to currently 9.6 percent.
Earlier, in May 2004, RWE AG had placed its shares in Heidelberg internationally in an accelerated tender offer, raising the Heidelberg share’s free float from formerly 22 percent to 57 percent.
As of January 30, 2006, Munich Re, Munich, reduced its stake in Heidelberger Druckmaschinen AG (Heidelberg) from 6.1 percent to 4.99 percent. According to the former regulations of the German Stock Exchange, stakes below the five-percent threshold were considered part of the free float. Consequently, with this move, Heidelberg’s free float rose to 73 percent.
Already in September 2005, Commerzbank AG, Frankfurt, had placed its ten percent stake (8.59 million shares) in Heidelberg on the market through an accelerated bookbuilding. Within one hour, transaction was successfully completed by the joint bookrunners, Commerzbank Corporates & Markets and UBS, increasing Heidelberg’s free float from 57 percent to 67 percent.
Heidelberg share’s international diversification was also considerably enhanced after May 2004, with English, US and Canadian investment funds meanwhile accounting for 40 percent of the identified free float; German investors account for around 30 percent. Approximately five percent of shares are held by private investors. Around half of our shareholders are interested in long-term appreciation of value and focus on Heidelberg’s robust earnings power.
As at: March 2008
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