Chew's Group makes U-turn on plan to allow dual-class shares
Companies Act amended to allow such shares; but SGX reminds company that scheme not approved yet for listed firms
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Michelle Quah
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Singapore
PUBLICLY listed companies in Singapore have yet to be given clearance to issue dual-class shares (DCS), but one listed entity appeared to have jumped the gun by moving to give itself the right to issue shares with different voting rights.
The Singapore Exchange (SGX) has stepped in with a reminder that DCS have not been given the greenlight, and that a public consultation on the subject may be held soon.
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