Shareholding structure

Galp’s share capital consists of 829,250,635 shares. Know more about our institutional and main investors and our qualifying holdings.

Share Capital

Galp’s share capital is composed of 829,250,635 ordinary shares. The free-float corresponds to 490,757,134 shares, i.e. 59.18% of the total share capital.


Of the 829,250,635, 93% of the share capital  i.e. 771,171,121 shares, have been admitted to trading on the Euronext Lisbon stock exchange since 23 October 2006. These shares do not have any special rights. The remaining 58,079,514 shares, which account for 7% of Galp’s share capital, are indirectly held by the Portuguese state through Parpública and are not listed for trading.

Main shareholders

Institutional Investors

Galp's shareholding structure has a high representation of international institutional investors, which contributes to the geographic diversity of Galp’s shareholders base.

Qualifying holdings

Qualifying holdings in Galp's share capital are calculated under article 20 of the Portuguese Securities Code and communicated to Galp for the purpose of article 16 of the same code.

Galp´s shareholders and other entities are required to notify Galp when their attributable holdings reach, exceed or are reduced to the thresholds of 2%, 5%, 10%, 15%, 20%, 25%, 1/3, 50%, 2/3 and 90% of the voting rights in Galp´s share capital.

Amorim Energia

Number of voting rights: 276,472,161
% of voting rights: 33.34%

Amorim Energia, B.V. has it head office in the Netherlands and its shareholders are Power, Oil & Gas Investments BV (35%), Amorim Investimentos Energéticos SGPS S.A. (20%) and Esperaza Holding BV (45%). Whereas the two first companies are directly or indirectly controlled by the Amorim family, the last one is controlled by Sonangol, E.P., Angola’s state-owned oil company.

Parpública - Participações Públicas 

Number of voting rights: 62,021,340
% of voting rights: 7.48%

Parpública is a vehicle for the Portuguese state’s equity holdings in a number of companies. 

Massachusetts Financial Services Company

Number of voting rights: 42,134,995
% of voting rights: 5.08%

Massachusetts Financial Services Company is an investment management company founded in 1924 and headquartered in Massachusetts, USA.

Updated on 3 September 2021.

T. Rowe Price Group, Inc.

Number of voting rights: 41,647,067
% of voting rights: 5.02%

T. Rowe Price Group, Inc. is an investment management company founded in 1937 and headquartered in Maryland, USA. It is listed on Nasdaq.

Updated on 21 April 2020.

BlackRock, Inc.

Number of voting rights: 41,449,604
% of voting rights: 4.998%

BlackRock, Inc. is an investment management company founded in 1988 and headquartered in New York, USA. It is listed on the New York Stock Exchange (NYSE). 

Updated on 16 January 2019.

Black Creek Investment Management Inc.

Number of voting rights: 16,606,503
% of voting rights: 2.03%

Black Creek Investment Management Inc. operates as an investment advisory company founded in 2005 and headquartered in Toronto, Canada. It is listed on the Toronto Stock Exchange (TSE). 

Updated on 25 June 2020

Lazard Asset Management LLC

Number of voting rights: 16,744,090
% of voting rights: 2.02%

Lazard Asset Management LLC operates as an investment advisory company founded in 1970 and headquartered in New York, USA. It is listed on the New York Stock Exchange (NYSE). 

Updated on 16 March 2021

Acquisition and disposal of own shares

On the General Shareholders Meeting held on 23 April 2021, the proposal regarding the acquisition and disposal of own shares was approved.

Thus, Galp’s Board of Directors may decide on the acquisition and disposal of own shares, based on the following terms, as per the proposal:

  • The Board of Directors may decide on the acquisition and disposal of own shares within 18 months from the date of the decision on the general shareholders meeting;
  • The number of own shares to be acquired must not exceed 10% of the Company’s share capital at any time;
  • The moment on which the shares shall be acquired will be determined by the Board of Directors, taking into account the market situation, the specific objectives, at any time, of the acquisition and the conveniences and obligations of the Company, which may be on one or more occasions, in the proportions determined by the Board of Directors;
  • The moment on which the shares shall be disposed will also be determined by the Board of Directors, taking into account the market situation, the specific objectives of the disposal, and the conveniences and obligations of the Company, which may be on one or more occasions, in proportions to be determined by the Board of Directors.

For detailed information regarding the acquisition and disposal of own shares, please view below the proposal submitted on the General Shareholders Meeting.