Allowing Dual Class Share Structure companies in the Premium listing segment of the London Stock Exchange : Appreciating International Experiences and Recognizing Local Conditions

In November 2020, the Chancellor of the United Kingdom (UK) announced a review of the UK’s listing regime. One issue where public response is being sought is whether dual class share (DCS) structure companies should be allowed in the Premium listing segment of the London Stock Exchange (LSE). The New York Stock Exchange (NYSE) has long allowed companies with such share structure for listing. Both Singapore and Hong Kong amended their listing rules in 2018 to allow companies with such share structure to list on their main board, subject to certain safeguards and restrictions. This article discusses why the UK should allow DCS structure companies in the Premium listing segment of the LSE from a commercial perspective and what measures should the UK adopt in allowing companies with such share structure in the Premium listing segment. In doing so, it will also refer to other major financial markets in the world and examine how other jurisdictions have handled the issue of DCS structure companies