Goldman Sachs’ chief executive suggests Hong Kong’s proposed limit on dual class share ownership could fail to provide a competitive advantage.
Goldman Sachs has suggested that the Hong Kong Stock Exchange may be making an error in limiting company founders to ownership of only 50% of dual class shares.
Reuters reports that Ken Hitchner, the investment bank's chief executive in the Asia-Pacific, said the limit could affect the Hong Kong exchange's ability to compete with New York.
Last month the Hong Kong exchange proposed allowing much-criticised dual class shares as part of changes to listing rules.
Hong Kong is seeking to introduce the changes as a means of making it more attractive for big Chinese tech firms to list in the territory.
A report from the exchange propose
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