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ARTICLE · 13 JULY 2018

Dual Class Share Listings - July 2018

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The changes are made with the intention to grow the stock market scene in Asia.

Hong KongCorporate/Commercial Law
Leong Chuo Ming
Leong Chuo Ming
Farhana Siddiqui
Farhana Siddiqui
Howard Wong
Howard Wong
Veronica Chew
Veronica Chew
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Two of the main stock exchanges in Asia – the Stock Exchange of Hong Kong (SEHK) and the Singapore Stock Exchange (SGX) – have recently changed their regulations to allow companies with dual class shares (DCS) to list.

SEHK implemented the change on April 30 while the SGX introduced new rules to the Singapore Exchange Securities Trading Limited Listing Rules (Mainboard) on June 26.

The changes are made with the intention to grow the stock market scene in Asia.

In Singapore, under a DCS structure, certain shareholders are given voting rights much higher than their shareholding. Shares in one class carry one vote (known as OV shares), while shares in another class carry multiple votes (termed MV shares).

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