CLSA and ACGA: Some uncomfortable thoughts on dual-class shares in Asia

The landmark corporate governance (CG) report raises renewed concerns about dual-class structures – which is a bit awkward given CLSA underwrites them.

For almost 20 years, the CG Watch report produced by the Asian Corporate Governance Association (ACGA) with CLSA has been a useful, scientific, principled and well-written account of environmental, social and governance (ESG) progress in Asia.

It has provided a window on the evolution of issues around independent directors, environmental policy, investor voting behaviour and a host of other CG issues across the enormously diverse markets of Asia-Pacific.

Wednesday’s launch of the characteristically fastidious report started with discussion of the big issue of the day: dual-class listing shares.

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