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Wednesday January 9, 3:43 PMTokyo exchange to let firms list but not lose corporate control
The scheme could start as early as in April but a formal decision has not yet been made, an exchange official said. The move would be part of the exchange's efforts to facilitate fund raising in various forms, the official said on condition of anonymity. "Founders of unlisted companies tend to avoid going public because their stakes would decline. We plan to enable them to raise money while retaining their controlling stakes," she said. The exchange plans to allow companies to float common shares and special shares with no voting rights at the same time, or to allow listed companies to have an additional listing of special shares, the official said. |
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