Hong Kong’s dual class shares get Mobius backing

Bloomberg

Mark Mobius has given his blessing to a new venue that would permit dual-class shares.
Hong Kong Exchanges & Clearing Ltd.’s plan that would allow dual-class companies to list at a bourse away from the city’s main exchange “is probably the answer,” said Mobius, executive chairman at Templeton Emerging Markets Group.
“People can make a choice, if they don’t like it they don’t have to invest,” Mobius said.
“A separate board is interesting because then
the index providers don’t have to include those companies in the index, as a lot of investors will refuse to invest in an index that has these shares in
it.” Mobius’s backing for the HKEX proposal, published in June, puts him at odds with investment
industry groups.