The Singapore Exchange (SGX) has just released its public consultation paper, Possible Listing Framework for Dual Class Share Structures (16 February 2016). A week prior, the Committee on the Future Economy (CFE) recommended exploring the merits of the dual class share structures, especially for companies in the high-technology industries.

Dual class shares (DCS) essentially give certain, usually founding, shareholders super voting rights. Do DCS structures make sense for Singapore?

Do such structures really enhance long term corporate performance? Or do they unfairly create an inferior class of shareholders who essentially hand over power to a select few who may disproportionately pass the financial risk to other shareholders?

Are corporate governance safeguards possible in a DCS listing framework? Or would any implementation of DCS impact Singapore’s ranking in corporate governance requirements among markets in Asia Pacific?

Join this forum to hear and debate on the different perspectives of dual class share structures. Speaking on the many sides of this subject will be a diverse panel comprising a regulator, top legal minds on corporate governance, a venture capitalist, an institutional investor, and an independent director.

CPD Hours : 2