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.

  • By Aidan Gregory
  • 19 Mar 2019

Lyft set the price range on Monday for its IPO at $62 to $68 a share, valuing the business at $23bn at the top of the range – an astronomical valuation for a firm that made a net loss of almost $1bn in its last financial year.

The ...

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