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Why couldn't the shares have been offered in 2 classes: one with voting rights and one without. Offer more of those without. Lots of companies do this e.g. Ber
by brisance 15y ago
Why couldn't the shares have been offered in 2 classes: one with voting rights and one without. Offer more of those without. Lots of companies do this e.g. Berkshire Hathaway, Google etc. That would solve the "mispricing" problem.
- OllieJones 15y agoMany institutional investors won't touch two-class shares. It's an inherently rigged model. But at least you know it's rigged, and the rigging rules are transparent.