NEL ASA share in focus: These are NEL’s largest shareholders

• NEL ASA wants to make green hydrogen affordable
• Deutsche Börse subsidiary is the main shareholder
• NEL shares under pressure

NEL ASA enters into numerous collaborations

Through various collaborations, the Norwegian hydrogen company NEL ASA is pursuing the goal of reducing the costs of green hydrogen so much that the raw material becomes significantly more affordable and an attractive alternative to fossil fuels. To this end, the company strives to continually conclude new electrolyzer contracts. NEL ASA offers alkaline electrolyzers and proton exchange membrane (PEM) electrolyzers that produce green hydrogen when splitting water. The voltage between electrodes in the water divides the molecules into charged ions. Both hydrogen and oxygen are produced at the electrodes. The Norwegian company is also striving to expand its electrolyzer production with new factories.

Deutsche Börse subsidiary is one of the main shareholders

In addition to the numerous partnerships that NEL ASA maintains, the hydrogen company also counts some big names among its investors. The Deutsche Börse subsidiary Clearstream Banking accounts for the lion’s share of 58.11 percent (as of October 25, 2023) of all shares. However, this is unlikely to be a single position held by the exchange operator, as Finanztrends reports. Instead, Clearstream manages the shares of numerous small investors outside Norway. For comparison: In July 2020, Clearstream’s position in NEL shares was 5.2 percent. The expansion of the position could therefore indicate a strong increase in trading by private investors outside Norway.

Another stock exchange operator follows in third place, albeit with a significantly smaller share of shares. The Swiss stock exchange subsidiary SIX SIS AG currently holds 1.65 percent of all NEL shares. The central securities depository is likely to take a similar position to Clearstream Banking, only for the Swiss market.

Mainly represented by credit institutions

In addition, credit institutions are primarily mentioned on the list of the largest shareholders. The State Street Bank and Trust Company, which also has various branches, is now in second place (2.17 percent). This is followed, after SIX, by the Swiss UBS (1.55 percent) and the Citigroup subsidiary Citibank (1.25 percent). The London branch of the major US bank JPMorgan owns 1.13 percent of the NEL shares, followed by Nordnet Bank (1.12 percent).

Norwegian pension fund among shareholders

In eighth place is another branch of State Street Bank and Trust Company with a share of 0.99 percent, and ninth place is occupied by CACEIS Bank with 0.90 percent of NEL ASA shares. The European branch of Citibank comes in tenth place with 0.87 percent, followed by another bank: The Bank of New York Mellon holds 0.82 percent through its branch in Frankfurt am Main. From Norway, the state pension fund Folketrygdfondet grabbed 0.75 percent of NEL ASA shares. CACEIS Bank once again occupies 13th place (0.73 percent), just ahead of the Danish online broker Saxo Bank with 0.71 percent. This is followed by Avanza Bank (0.69 percent) and again JPMorgan London (0.69 percent). Places 17 and 18 also belong to the Bank of New York Mellon, with 0.63 and 0.60 percent respectively, before CACEIS Bank follows again in 19th place with 0.52 percent. The last place in the ranking is taken by Euroclear Bank (0.50 percent), which is based in Brussels.

NEL shares on the decline

However, investors seem to be only moderately enthusiastic about the dense reports of new projects that NEL ASA is embarking on. And the latest quarterly figures do not support the chart picture either. In the last twelve months, the paper has lost 42.68 percent of its value. Most recently, the titles were at 7,122 Norwegian krone (as of October 31, 2023).

Editorial team finanzen.net

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