The CEO of FTSE Russell, the world’s largest index company, has said the compiler might restrict its inclusion of companies with unequal voting rights. Mark Makepeace said the company, which launched a consultation on firms that sell non-voting shares in March, is considering setting a minimum threshold for the percentage of voting rights in the hands of free float, or public, shareholders. The question of unequal voting rights received increased attention following the decision of Snap to offer investors $3.4bn of non-voting shares when the company went public in June.
The CEO of FTSE Russell, the world’s largest index company, has said the compiler might restrict its inclusion of companies with unequal voting rights. Mark Makepeace said the company, which launched a consultation on firms that sell non-voting shares in June, is considering setting a minimum threshold for the percentage of voting rights in the hands of free float, or public, shareholders. The question of unequal voting rights received increased attention following the decision of Snap to offer investors $3.4bn of non-voting shares when the company went public in March.