Capital ownership

(at March 31st, 2021)


Breakdown of capital

The free float is over 80%. Most is held by institutional investors.

  • Kabouter Management LLC (United States), acting on behalf of investment funds that it manages, holds more than 10% (but less than 15%) of the capital and the voting rights;

  • Kempen Capital Management NV (The Netherlands), acting on behalf of the Kempen Oranje Participaties investment fund that it manages, and Allianz SE (Germany) through the companies Allianz IARD and Allianz vie that it controls and Artisan Partners Limited Partnership (United States), acting on behalf of investment funds and customers that it manages, hold more than 5% (but less than 10%) of the capital and the voting rights.

The company holds 0,07% in treasury shares in the framework of the liquidity agreement.



Capital: 32,598,425 shares 


Breakdown of diluted capital

Thanks to a motivating stock option program, the management (other than Daniel Harari, who holds no stock options) and key employees (322 persons) hold 4,5 % of the diluted capital. The Group intends to pursue this selective policy of promoting employee share-ownership. Fully-vested stock options totaled 0,9 % of the base capital.



Fully-diluted capital: 33,687,479 shares