Our Sponsors

VIPCoFCCGBroadridgeLink Market Services GmbHAHEADhermesDP DHLK+SSAPGeorgesonSuedzuckerWacker Chemie AGThomson ReutersEQS Group



Corporate Governance – portrayed in the individual cultural and legal framework, from the standpoint of equity capital.

VIPsight is a dynamic photo archive, sorted by nations and dates, by and for those interested in CG from all over the world.

VIPsight offers, every month:
transparent and independent current information / comments / facts and figures on corporate governance locally and internationally,

  • written by local CG experts,
  • selected and structured by the Club of Florence,
  • financed by its initiator VIP and other sponsors with a background of “Equity and Advisory” interests.

VIPsight International

Article Index



Capital News


Drägerwerk has started its capital increase for buying back the Siemens shares in Dräger Medical. In the course of it, the family’s share in the registered capital at the Lübeck medical and safety-technology company is to fall from 100% to 71%. The voting shares are also in future to be traded; to date it was only the preference shares that were listed. Up to 30 June 3,810,000 new ordinary shares were issued, the 120-year-old firm stated on 16 June. With its IPO, the registered capital against cash contributions rises from €9,753,600 to €42,265,600.

Heidelberger Druckmaschinen wants to collect some €420 million in fresh funds in a capital increase. The number of shares will triple. Saved from collapse only last year with €850 million in state aid, Heidelberger is seeking to use the money to reduce its pressing debt burden and increase its equity-capital ratio, which in the crisis had fallen to 20%. The machine builder is accordingly abandoning its months-long search for an anchor investor. Allianz, the biggest shareholder at 12%, is according to indications fully joining in the capital increase and will exercise its subscription rights in full. RWE, which still holds 8%, will not be joining in.

By 25 June LANXESS had bought back 155,000 of its own shares, or 0.2% of the registered capital, to issue employee shares. The purchase of the shares took place exclusively in XETRA trading on the Frankfurt securities exchange.

Rhön-Klinikum has failed on its authorization to buy back shares. The agenda item did not secure the necessary majority, stated the private-clinic operator, following the shareholder meeting on 9 June in Frankfurt. According to the statutes, for this decision a 90% majority was necessary, but this was not reached. Only 84% of the capital present voted in favour of the reserve decision. Voting representative Riskmetrics had opposed the resolution.