Index provider MSCI reveals it will broaden its consultation to “all forms” of unequal voting rights.
The IPO of Snapchat owner Snap caused controversy by offering non-voting shares. Photo: Shutterstock
MSCI, the research house and equity index provider, is to broaden its investigation of non-voting shares.
The indexer launched a consultation on unequal voting rights in June this year following Snap Inc's decision to issue shares in an IPO that carried no voting rights at all.
The initial consultation had looked at voting where company-level voting power was less than 25%. MSCI has already reported that most of the market participants it consulted would support exclusion of unequal voting rights from its indices.
In a statement this week MSCI said its investigation would now be extended to "include a discussion on the treatment of a
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