BlackRock urges shareholder protection as Asia bourses weigh dual-class listings
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Hong Kong
HONG Kong and Singapore bourses need to introduce shareholder protection measures if they allow companies with dual-classes of shares to list, BlackRock Inc's head of investment stewardship for the Asia-Pacific said on Tuesday.
Hit by dwindling new listings and a growing number of Asian startups listing in the United States, both Singapore Exchange Ltd and Hong Kong Exchanges & Clearing Ltd have proposed new rules to allow companies to sell shares with different voting rights. Introducing those changes may not help attract prospective initial public offering (IPO) candidates, mainly technology startups that choose New York, Pru Bennett told the Reuters Financial Regulation Summit.
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