Better to have no safeguards at all for dual class shares, says Aberdeen
Singapore
FUND managers are against the idea of dual class shares (DCS) but if the authorities here were to allow companies with DCS structures to list here, then according to Aberdeen Asset Management Asia head of corporate governance David Smith, it would be better not to have any safeguards at all.
"The safeguards simply don't stack up," said Mr Smith in an interview with BT last week. "Every one of those proposed can be circumvented by a market full of people whose job is to find a way to round the rules . . . we shouldn't allow such companies here in the first place but if you have to have them, just do away with the safeguards, otherwise no one will come."
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