The UK should steer clear of dual-class rush

Lyft, the US ride sharing app, has hit the gas on its Nasdaq IPO this week, which promises to be the largest technology listing in New York since Alibaba floated in 2014. The deal is a fee bonanza for Lyft’s banks but it has also reignited the debate about dual class share structures. The LSE and UK regulators should maintain corporate governance standards, and resist competitive pressures to follow New York, Hong Kong and Singapore by allowing them.