According to the annual shareholder identification survey, the proportion of Linde shares held by institutional investors at 31 December 2011 remained stable at around 80 percent (2010: 80 percent). The proportion of Linde shares held by private investors at the year-end was therefore around 20 percent.
The largest proportion of institutional investors (43 percent) continues to come from North America (2010: 41 percent). By the end of the 2011 financial year, German institutional investors had reduced their holdings to just 17 percent of Linde shares (2010: 21 percent). The proportion of British institutional investors increased slightly from 15 percent at the end of 2010 to 16 percent at 31 December 2011. The French market also increased its holdings again, to 8 percent of Linde shares (2010: 7 percent). France is therefore the third largest European group of institutional investors in Linde.
In the past financial year, Linde has again succeeded in broadening its investor base to include a number of investors who take a long-term view. The Group's business model is geared towards sustainable, profitable growth. Linde also benefits from a stable financing structure and offers investors an attractive investment which can boast long-term wealth creation.
