Dual class shares likely to be limited to SGX main board
HK and China also in race to accommodate biotech firms and other startups in hope of snaring the next FANG
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Angela Tan
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Singapore
WITH China joining the fray to woo back the billions it lost when homegrown startups listed overseas, the battle to list the next FANG (Facebook, Amazon, Netflix, Google) and BAT (Baidu, Alibaba and Tencent) has just become hotter.
By end March, Singapore Exchange (SGX) will publish its response to a consultation issued last year on dual class shares (DCS) - the controversial structure which allows founders and certain shareholders to have higher voting rights or dividends than others. A second consultation on the key framework and rules will be issued at the same time, before they are finalised in time for DCS adoption soon after June.
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