NIBE Industrier AB’s class B shares were floated on the Stockholm Stock Exchange’s OTC list (now the Mid Cap list, NASDAQ OMX Stockholm) on 16 June 1997 following the issue of 1,170,000 new class B shares. The subscription price then was SEK 70 per share. This corresponds to SEK 4.38 per share following the 4:1 splits carried out in June 2003 and June 2006. In 2011 16,119,437 new shares were issued and, parallel with this, the NIBE obtained a secondary listing on the SIX Swiss Exchange. In 2012 a further new issue was made of 214,201 shares.
NIBE Industrier AB has a share capital of SEK 68.8 million, divided into 13,060,256 class A shares and 96,879,181 class B shares. The quota value (i.e. share capital divided by shares) is SEK 0.625. Every class A share carries ten votes at the Annual General Meeting and every class B share carries one vote. All shares carry the same entitlement to the company’s assets and profits. At the end of 2012 the company had no outstanding convertible loans or options that could risk diluting the share capital.
New share issue
In 2012 a new issue of 214,201 shares was made to be used as part of the settlement for the compulsory redemption of the remaining 1.3% of shares in the Schulthess Group AG.
Following the share issue in 2011 the NIBE share is now also listed on the SIX Swiss Exchange.
Share performance and turnover
During 2012 the NIBE share fell in value by 8% from SEK 101.75 to SEK 93.75. The Carnegie Small Companies Index rose by 9% during the same period and the OMX Stockholm All-share Index (OMXS) rose by 12%. This means that, at the end of 2012 the market capitalisation of NIBE, based on the latest price paid, amounted to SEK 10,336 million. In 2012 a total of 26,129,903 NIBE shares were traded, which corresponds to a share turnover of 23.7% over the year.
The aim is, over the long term, to pay a dividend equivalent to 25–30% of Group profit after tax. The Board is proposing a dividend of SEK 2.00 per share for the 2012 financial year, which equates to 28.8% of Group profit after tax.
The number of shareholders has fallen during the year. However, because of Swiss reporting regulations, it is, in principle, impossible to determine the current total number of shareholders for the Group’s secondary listing on the SIX Swiss Exchange. Excluding these Swiss-registered owners, NIBE had 16,884 individual shareholders at the end of 2012, compared with 17,949 twelve months previously. The ten largest shareholders held 59.8% of the votes and 43.7% of the capital.
To increase turnover in NIBE shares and give both current and future owners the opportunity to evaluate the business as fairly as possible, senior management strives ceaselessly to develop and improve financial information relating to the company by taking an active role in meetings with Swedish and foreign analysts, investors and the media.