Is SGX pressured to liberalise by allowing DCS companies to list?

SINGAPORE (Apr 13): Spotify is only the latest in a growing list of internet-related companies that have come to market offering investors the promise of fast growth and eventual profitability, but limited voting rights.

Other loss-making companies with dual-class share (DCS) structures that have been listed recently include cloud storage provider Dropbox, social media app maker Snap and e-commerce clothing retailer Stitch Fix.

Companies with DCS structures are not new, and have always been controversial for the outsized voting rights they confer on a small group of shareholders.

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