Indian regulator approves dual-class share listings

By Jonathan Breen
02 Jul 2019

India’s securities watchdog has approved the issuance of shares that carry weighted-voting rights, allowing for a company’s shareholders to have different voting powers.

The Securities and Exchange Board of India (Sebi) has published a framework for what it refers to as “differential voting rights" (DVR) shares.

The rules state that only technology-focused businesses can issue DVR stock. Similar limitations were implemented when Hong Kong’s stock exchange also gave the green light ...

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