Chancellor Rishi Sunak has included dual-class shares in a review of UK listings, with the ICGN warning that they risk lowering governance standards.
Image: Alexey Godzenko/Shutterstock
Dual-class shares, long a point of friction in financial markets around the world, are set to become a battleground in the UK. The development comes after the chancellor Rishi Sunak included shares with special, or weighted, voting rights in a new consultation looking at a number of listing rules. The arguments have already begun.
On one side are institutional shareholders anxious not to see their influence diminished by the creation of super-powered shares. On the other are public markets keen to attract the listings of big tech companies whose founders are keen to retain a grip on control of their companies.
The UK debates was kicked
For thoughtful journalism, expert insights on corporate governance and an extensive library of reports, guides and tools to help boards and directors navigate the complexities of their roles, subscribe to Board Agenda