Based on our latest survey, at the end of 2020, an estimated 87 % of the total of 676.2 million RWE shares were held by institutional investors and 13 % were owned by individuals (including employees). Institutional investors from Germany owned 24 % of RWE. This investor group accounted for 12 % of RWE’s subscribed capital in other countries in Continental Europe and 19 % in the United Kingdom. In the USA and Canada, its share was a combined 24 %. At the end of the year, RWE AG’s single-largest shareholder was the US asset management company BlackRock, which owned 7 % of our subscribed capital.
The free float of our shares considered by Deutsche Börse in terms of index weighting was 100 % when this report went to print. Normally, shares held by investors accounting for at least a cumulative 5 % of the capital stock are not included in the free float. However, a higher threshold of 25 % applies to asset management companies like BlackRock.