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Nikkei Markets

SGX proposes safeguards for controversial dual-class shares

Governance experts worry dual-class listings will lower standards

SGX's plan to permit dual-class listings has been criticized by several investors and corporate governance experts.   © Reuters

SINGAPORE (Nikkei Markets) -- Singapore Exchange has proposed safeguards for investors as it goes ahead with plans to allow controversial dual class share listings by mid-year.

The proposals, outlined in a consultation paper, include a plan to restrict the issue of shares with multiple voting rights to directors of the company. These multiple-vote shares will convert to one-vote shares should the holder sell his shares or cease to be a director.

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