Shareholder structure

The Federal Republic’s shareholding including that of KfW, Kreditanstalt für Wiederaufbau, stands at approximately 32 percent. The proportion of institutional investors is 52 percent of share capital, while the share of retail investors is 16 percent. As a result, the percentage of shares in free float remains at 68 percent of share capital.

All data have been updated as of March 31, 2018.

Shareholder	Structure as of March 31, 2018		Structure as of December 31, 2017		Structure as of December 31, 2016
	%	# of shares	%	# of shares	%	# of shares
Free float	68.1	3,242,678,477	68.1	3,242,678,477	68.0	3,180,938,444
State-owned: Federal Republic of Germany	14.5	689,601,413	14.5	689,601,413	14.5	676,971,353
State-owned: KfW	17.4	829,178,706	17.4	829,178,706	17.5	818,992,236
Total	100.0	4,761,458,596	100.0	4,761,458,596	100.0	4,676,902,033