Search the Site

Special Report: Snap Judgment on Non-Voting Shares in an IPO

Spotify Tests SEC Patience with Dual-Class Shares for Stock Offering

Non-voting shares are nothing new in the world of capital markets, but never before have they been the security on sale in an IPO. They hadn’t been, that is, until Snap. Inc. sold $3 billion of non-voting shares in a splashy IPO that gave the capital markets industry a welcome reminder of the glory days of old. But much remains unknown about shareholder experience with non-voting shares, leaving open the question of whether Snap’s IPO will, in retrospect, look more like a harbinger of further initial offerings of non-voting shares, or a “fool me once” event that wise investors will steer clear of in the future.

Related Articles

The GDPR Story Begins

We’ve been waiting years for its arrival, holding our breath in nervous anticipation—and finally, on May 25, the world will experience it. But eno...

U.S. Cannabis Law Opens Door to Canadian Invasion

Federal law makes the possession and sale of marijuana illegal throughout the United States. As we’ve long known, this federal policy keeps American...

Retailers Adjust to the Amazon Effect

When founder Jeff Bezos introduced Amazon.com to the world more than 20 years ago, it was supposed to signal the demise of the bookstore. The threa...