Ownership Structure

The capital stock of Bayer AG, amounting to Euro 2,387,333,027.84, is divided into 932,551,964 no-par registered shares. Bayer has a 100 percent free float as defined by Deutsche Börse, the operator of the Frankfurt Stock Exchange. Under our Articles of Association, each of our ordinary shares represents one vote.

The number of Bayer stockholders rose substantially in 2018. At the end of 2018, approximately 383,000 stockholders were listed in our share register – an increase of more than 11% compared with the previous year. The majority of these stockholders were private investors, most of them based in Germany. Private investors held approximately 11 percent of the capital stock on that date, with Bayer employees holding approximately 1 percent.

An analysis of our ownership structure carried out in the fourth quarter of 2018 covered approx. 90% of issued shares (842,264,698 shares), including those held by 1,315 institutional investors. The following regional distribution is based on the results of this survey.


Stock ownership by region

Our ownership structure shows the international distribution of our capital stock. The highest proportion of our outstanding shares, approx. 30 percent, is held by investors in the United States and Canada, followed by Germany with approx. 20 percent. From a regional perspective, Bayer has a stable ownership structure that has altered only slightly in recent years.

Ownership Structure by Country

Source: Cmi2i


Stockholders with > 3 percent of the voting rights

Under the German Securities Trading Act (Wertpapierhandelsgesetz), holders of voting securities of a listed German company must notify that company of the level of their holding whenever it reaches, exceeds or falls below specified thresholds. These thresholds are 3, 5, 10, 15, 20, 25, 30, 50 and 75 percent of the company’s outstanding voting securities.

Voting rights announcements