SGX launches consultation on dual-class shares

Singapore

THE Singapore Exchange (SGX) could propose changes to the listing rules as early as the third quarter of this year if it perceives market "consensus" on the introduction of dual-class shares (DCS), the market regulator said on Thursday.

But early responses to a public consultation launched on Thursday suggest much work ahead in building any kind of broad agreement about whether and how to allow DCS structures on the stock exchange.

Citing the need to improve market vibrancy through regulatory innovation, albeit in a responsible manner, the exchange has incorporated all the recommendations that the independent Listings Advisory Committee (LAC) submitted last year.

Two of the proposals are novel in the sense that they are not currently mandated by any…