
Founders without Limits
Dual-Class Stock and the Premium Tier of the London Stock Exchange
- English
- PDF
- Available on iOS & Android
Founders without Limits
Dual-Class Stock and the Premium Tier of the London Stock Exchange
About this book
Big Tech has flourished on the US public markets in recent years with numerous blue-chip IPOs, from Google and Facebook, to new kids on the block such as Snap, Zoom, and Airbnb. A key trend is the burgeoning use of dual-class stock. Dual-class stock enables founders to divest of equity and generate finance for growth through an IPO, without losing the control they desire to pursue their long-term, market-disrupting visions. Bobby Reddy scrutinises the global history of dual-class stock, evaluates the conceptual and empirical evidence on dual-class stock, and assesses the approach of the London Stock Exchange and ongoing UK regulatory reforms to dual-class stock. A policy roadmap is presented that optimally supports the adoption of dual-class stock while still protecting against its potential abuses, which will more effectively attract high-growth, innovative companies to the UK equity markets, boost the economy, and unleash the true potential of 'founders without limits'.
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Information
Table of contents
- Cover
- Half-title page
- Series page
- Title page
- Copyright page
- Contents
- List of Figures
- List of Tables
- Preface
- Acknowledgements
- Table of Cases
- Table of Legislation and Regulation
- List of Abbreviations
- Introduction
- Part I Putting Dual-Class Stock into Context
- Part II Evaluating Dual-Class Stock
- Part III Formulating a Policy on Dual-Class Stock
- Epilogue
- Appendix Comparison of Inferior-Voting Shareholder Protections on Major Dual-Class Stock Exchanges
- Index