A number of high-profile listings including Facebook, Snap, Alibaba and LinkedIn have thrust dual class shares back into the spotlight. In 2018 both the Hong Kong SAR and Singapore stock exchanges revised their listing rules within months of each other to permit the listing of companies with dual class or weighted voting right shares and in 2019, the Shanghai exchange launched a new board that permitted this structure. At the same time, a number of high-profile listings have reignited the corporate governance debate as institutional investors and index funds begin a campaign to see further limits and protections imposed on their use. This article by Baker McKenzie lawyers considers the dual class share landscape and the strategy adopted by Asian and other global stock exchanges.

 

Explore More Insight
View All