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What's a specific example of the 99% individual, 1% float?
by danielmarkbruce 4y ago
What's a specific example of the 99% individual, 1% float?
- yieldcrv 4y agoI'll see if I can find one, there were some extreme[ly amusing] examples on the Hang Seng Index and the Shanghai Shenzhen one, or maybe just those stock exchanges and not the index It all helped me realize that its all just contracts. If you get someone to agree then you can do it. Most of finance is cookie-cutter stuff that the company legal and the MBAs thought was familiar, but you can do anything if the other party agrees to it. Such as buy a share at a tiny float.
- boeingUH60 4y agoIn my country (Nigeria), there’s a publicly-traded conglomerate (BUA Group) where the founder and his son jointly own a 98% stake [1]. 1- https://nairametrics.com/2022/01/14/366674/ https://nairametrics.com/2022/01/14/366674/
- danielmarkbruce 4y agoInteresting. What are they trying to achieve with these listings? It might be nice for a magazine article or something, but it seems like there is little practical use? For example, I don't imagine any bank being willing to use those shares as collateral, nor an acquisition target valuing those shares as a currency. Is it just ego?