Is Singapore ready for dual-class shares?
In the light of the Hong Kong bourse's recent decision, the Republic should grab the opportunity to take the plunge and forge ahead.
ON OCT 6, Britain's Financial Times (FT) reported that the Hong Kong Stock Exchange (HKEx) "scraps plan to woo Chinese tech groups with dual-class share rules". The Securities and Futures Commission of Hong Kong had announced that it will not support proposals to allow HKEx-listed companies to have dual-class shares.
This comes in the face of loud corporate clamouring for the listing rules to be relaxed. In September 2014, Alibaba Group launched its US$25 billion initial public offering in New York, setting a record for the biggest IPO in global corporate history.
At the time, it was reported that Jack Ma had considered HKEx as a listing ven…
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