EDITORIAL: Dual-class share structures lose favour among investors
But they remain popular among some of those who control companies
26 July 2022 - 05:10
If we have learnt anything in the age of ESG (environmental, social and governance) investing, it is that dual-class share structures have lost favour among investors but remain stubbornly popular with some companies.
One of these companies is Richemont, the R1-trillion luxury goods maker controlled by Johann Rupert. It made headlines last week when it emerged that Bluebell Capital Partners, an activist hedge fund based in London, had launched a direct challenge to the structure by seeking board representation for A-class shareholders. ..
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